Walt Disney Co. is developing a subscription-based product for the Internet, according to Chief Executive Officer Robert Iger.

“We have ample evidence both in traditional and new media that people are willing to pay for quality, to pay for choice and to pay for convenience,” Iger said Thursday at a Pasadena conference sponsored by Fortune magazine. “And they are willing to pay for what they perceive as value.”

Disney, the world’s largest media company, already is putting movies and television shows online to reach Internet viewers. Online advertising can be improved, and consumers can be targeted by tracking their activities and interests, generating higher prices from marketers, Iger said. Subscription products are particularly promising to the company.

The company was the first to sell shows and films on Apple Inc.’s iTunes and to put advertiser-supported prime-time TV programs online. Iger said smart devices offer a way to generate revenue from the Web.

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