Disney seeks new frontiers to add viewers

NEW YORK — Disney is seeking new frontiers. The media company launched its $5-a-month sports streaming service, ESPN Plus, last month, and it signed a deal with Twitter this month to create Marvel, ABC and ESPN content on that service. Meanwhile, Disney is trying to buy much of 21st Century Fox, including the Fox television network and the X-Men movie franchise.

The moves come as Disney seeks ways to extend beyond the traditional cable-bundle format as more people watch TV online. Sports network ESPN was once a jewel in Disney’s crown, but subscriptions have been falling as people drop cable services.

But the company has found strength elsewhere, notably its movie studio and theme parks. Disney’s franchises such as Marvel’s Avengers and “Star Wars” have been raking in money. “Avengers: Infinity War” has grossed over $1 billion since it opened April 27.

In a statement, CEO Bob Iger said Disney was “very well positioned for future growth” because of its ability to take advantage of such franchises across all businesses and “the unique value proposition” it’s creating with direct-to-consumer streaming services.

Net income rose 23 percent $2.94 billion, or $1.95 per share, from $2.39 billion, or $1.50 per share a year ago.

The Walt Disney Co. is also working on an entertainment streaming service with classic and upcoming movies from the Disney studio, shows from Disney Channel, and the “Star Wars,” Marvel and Pixar movies.