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Shares in the company, which has been hit hard
by the coronavirus pandemic as theme parks and movie theaters
were forced to shut down, fell about 3% after Chapek's
statement.
"Our TV group has hundreds of new programs in production ... but
the resurgence of COVID and Delta did impact some of our
productions so that we've got a lighter product quarter in Q4
than we might have expected," Chapek said at the Goldman Sachs
Communacopia Conference.
COVID-induced production delays were seen globally, which in
turn were affecting supply of new content, but the issues were
short term, he added.
Disney streaming service Disney+, which debuted in November
2019, has seen more consumers tuning in, but the competition has
been heating up with new entrants and as companies including
Netflix and Apple invest into producing more programs.
Chapek said the company was still "very bullish and confident"
about its long-term subscription growth, but there could be "a
little bit more noise" than was expected.
(Reporting by Nivedita Balu in Bengaluru; Editing by Vinay
Dwivedi)
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