In a statement, Iger said he was excited about "opportunities ahead for continued growth".
ESPN's highly profitable operation has been under pressure in recent years as consumers cut the cord and flock to such streaming services as Netflix and Amazon Prime video. Some reports have said it could be as cheap as $5 a month.
Considering that CBS All Access's Star Trek: Discovery was one of the most expensive shows in TV history with a budget of between $8 million and $8.5 million per episode then it becomes apparent just how much Disney is investing in both Favreau's show and its streaming service at large. That ultimately gives Disney more data to gauge its audience.
"The price will reflect a lower volume of product, as will the cost of producing and owning that content", Iger explained. Netflix plans range from $8 to $14 (approximately Rs. 960) a month.
The streaming service is set to launch in 2019 with several programs, including a "live-action version" of "Lady and the Tramp", as well as a live-action "Star Wars" series directed by Jon Favreau that will cost about $100 million for 10 episodes. So, while Disney is now working on projects meant specifically for the streaming service, including an adaption of the novel Stargirl, the streaming service will make sure that fans understand Star Wars films released prior to 2019 will be unavailable.
Some of Disney's properties, such as the original "Star Wars" trilogy, have licensing agreements already in place with other companies, so they won't be available, at least initially.More news: The thought Concerns About Tesla, Inc. (TSLA)
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When Thanos snapped his fingers he halved the universe's population, but that seems like mercy compared to what Disney will be doing to Netflix when the Mouse House launches its very own streaming service next year, because Disney will be moving every movie from the Marvel Cinematic Universe to its own site.
Overall in the quarter, Disney reported net income rose 23 percent, to $2.92 billion, or $1.95 a share.
Walt Disney shares fell 2% on Tuesday after it missed quarterly profit estimates. The average estimate of four analysts surveyed by Zacks Investment Research was for adjusted earnings of $1.97 (roughly Rs. 133) per share.
Revenue rose 7 percent to $15.23 billion - also missing forecasts.
Disney's movie studio enjoyed blockbuster success with "Avengers: Infinity War" and "The Incredibles 2".