Disney’s sports push could complete its triple-threat streaming strategy

California un-venture… Disney got the equivalent of a “C” from investors after it narrowly missed revenue estimates and posted a small loss in its most recent quarter. The stock fell 10% yesterday. Disney’s fourth straight disappointing quarter came as cable and box-office revenue sagged. Parks and experiences were a bright spot with strong growth as Mickey lovers kept splurging on rides. But Disney’s counting on people sitting on their couches too:

• Plus: Disney+ and Hulu combined were profitable last quarter for the first time, with Disney+ adding 6M+ subs for a total of 118M. But overall the streaming unit lost $18M because of ESPN+. Still, it’s a big improvement from the $659M it lost last year.

• Bright side: Disney expects all its streamers to be profitable by fall. It recently won its boardroom battle against activist investor Nelson Peltz, and the pressure to overhaul its biz may have lit a fire under its caboose.

Once upon a tile… Disney’s expanding its sports offerings and rearranging its streaming suite as it pushes toward a profit. It plans to integrate Hulu and ESPN+ into Disney+ as clickable “tiles,” which might encourage customers to bundle up. Disney’s also working on a streaming equivalent of its ESPN TV channel (different from ESPN+). If that wasn’t enough: Disney teamed up with Fox and Warner Bros. Discovery on a live-sports mega-streaming bundle (which’ll cover over half of all US sports rights). ETA: this fall, although it’s facing an antitrust lawsuit.