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The mouse has grown into a media giant. Disney’s empire includes movies (including Pixar), television (featuring ABC), and theme parks.
http://beta.fool.com/adamlevy/2013/02/07/content-king-increasing-demand-content-creators/23914/The cost of content is clearly rising. Netflix is spending outrageous amounts of money to grow its library, including a $1 billion deal with Disney. However, this is just for Disney's movie segment. It's television programming is its most profitable segment and includes ESPN, ABC, and of course the Disney Channel. Disney's content products are becoming increasingly valuable, and whether it packages them in cable/satellite TV, internet video streaming, or its own a la carte service, Disney will be able to maximize that value very well.
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