Disney Content Spending in 2023 May Be Lower Because of Writers Strike, CFO Says
variety.comTodd Spangler NY Digital Editor Disney has pegged total cash content spending at around $30 billion for this year — but the ongoing Writers Guild of America strike may drive that down, CFO Christine McCarthy said. “If you haven’t noticed we’re in the middle of a writers strike,” McCarthy said, speaking Wednesday at MoffettNathanson’s Technology, Media and Telecom Conference in New York.
The WGA walkout may reduce Disney’s cash spending on content for the balance of the year, she said. At the MoffettNathanson conference, MCarthy appeared alongside Disney president of ad sales Rita Ferro.
The two Disney execs spoke a day after the media conglom’s upfront presentation in the Big Apple to ad buyers and brands — which was noticeably light on scripted fare, given the writers strike.
Marvel’s Kevin Feige previewed upcoming Disney+ series “Secret Invasion,” featuring Samuel L. Jackson and Don Cheadle, and announced premiere dates for “Loki” Season 2 and “Hawkeye” spinoff “Echo.” Disney already has been in the midst of a companywide cost-cutting initiative, with CEO Bob Iger focused on trimming content spending, McCarthy said.
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