Walt Disney (NYSE: DIS) is undoubtedly the most well-known entertainment firm in the world.
Despite its size, market leadership, many media channels, cruise ships, and other assets, Disney is a relatively risk-averse firm.
Taking risks has been a winning strategy for Disney throughout its history.
Disney's current bet involves aggressively investing in content and increasing its direct-to-consumer (DTC) services via Disney+, ESPN+, and Hulu.
In the first half of fiscal 2022, these three services alone incurred $6.74 billion in programming and production expenditures.
In addition, Disney forecasts total content investment in fiscal 2022 to reach $32 billion.