That’s not entirely true. Disney+ is partially losing money because of “transfer payments”. Disney+ has to “pay” Disney studios the market rate for the right to stream a movie. Of course the money mostly flows up to Disney. But from an accounting standpoint, Disney+ can’t say it’s profitable by getting movies for free from Disney studios and cause Disney studios to lose potential profits they could have made elsewhere.

There are also revenue share agreements that are involved with actors. That are still taken into accounts

> You can’t have enough new content every month, subscribers therefore don’t keep the subscription year round

That’s not strictly true either for kids content. You can keep recycling content to kids for years and kids will rewatch the same thing.

Disney has been making money off the same animated content for over half a century. To a first approximation, no one cares about Netflix’s back catalog.