Celebs in News
Warner Bros
Warner Bros. Entertainment Inc. (commonly known as Warner Bros. and abbreviated as WB), is an American diversified multinational mass media and entertainment conglomerate headquartered at the Warner Bros. Studios complex in Burbank, California, and a division of AT&T's WarnerMedia. Founded in 1923 by brothers Harry, Albert, Sam, and Jack Warner, the company established itself as a leader in the American film industry before diversifying into animation, television, and video games, and is one of the "Big Five" major American film studios, as well as a member of the Motion Picture Association (MPA).
Related Rumors
Bob Iger Cynthia Littleton Warner Bros Christine Maccarthy Entertainment Hollywood ESPN sports CEO Target Platform and Bob Iger Cynthia Littleton Warner Bros Christine Maccarthy

Time to Grow Up, Disney+ and Hulu: Content Cuts Coming as Part of Streaming’s ‘Maturation Process’

Reading now: 654
variety.com

Cynthia Littleton Business Editor Disney is going on a diet — but Hulu is still on the menu. Disney CEO Bob Iger and chief financial officer Christine McCarthy delivered a clear message on Wednesday to Wall Street and to Hollywood during Disney’s quarterly earnings call.

Disney will cut the overall volume of content produced for its streaming platforms — primarily Disney+ and Hulu — as it deals with a much tighter macroeconomic environment, not to mention the uncertain impact of the writers strike that began May 2.

After spending just under $30 billion on content in Disney’s 2022 fiscal year (which ends in September), Iger has targeted $3 billion in savings for 2023.

Of that $30 billion, about 30% is devoted to sports rights for ESPN and ABC Sports. “We are in the process of reviewing the content on our (direct-to-consumer) services to align with the strategic changes in our approach to content curation,” McCarthy said. “Going forward, we intend to produce lower volumes of content in alignment with this strategic shift.” Disney will trim the volume of new content that it produces for 2024 and 2025.

Read more on variety.com
The website starsalert.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA