EXCLUSIVE: Amid a focus on content curation and Disney-owned IP, Disney+ is not proceeding with The Spiderwick Chronicles, its live-action series adaptation of the popular children’s fantasy books, Deadline has learned.
The six-episode series, from Paramount Television Studios and 20th Television, has been completed. It is currently being shopped by Paramount to other potential buyers.
The decision comes as Disney — along with other media companies — have been reevaluating their streaming strategies by cutting programming costs with a renewed focus on profitability.
It is part of the major content write-off announced by Disney in May, I hear. “We are in the process of reviewing the content on our DTC services to align with the strategic changes in our approach to content curation,” Disney CFO Christine McCarthy at the time. “As a result, we will be removing certain content from our streaming platforms, and currently expect to take an impairment charge of approximately $1.5 to $1.8 billion.” Shortly after that announcement was made, dozens of original seriesand specials were taken off Disney+ as well as Hulu.
Read more on deadline.com
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