{"id":132647,"date":"2023-05-10T22:10:59","date_gmt":"2023-05-10T22:10:59","guid":{"rendered":"https:\/\/fin2me.com\/?p=132647"},"modified":"2023-05-10T22:10:59","modified_gmt":"2023-05-10T22:10:59","slug":"disney-pulling-some-content-off-streaming-in-strategic-rethink","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/disney-pulling-some-content-off-streaming-in-strategic-rethink\/","title":{"rendered":"Disney Pulling Some Content Off Streaming In Strategic Rethink"},"content":{"rendered":"<p>Disney will be yanking content from streaming as it rethinks its costs and strategy, and is looking at a content impairment charge of $1.5 billion to $1.8 billion as it does.<\/p>\n<p>&#8220;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,&#8221; said CFO Christine McCarthy on the company&#8217;s post-earnings call.<\/p>\n<p>&#8220;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. The charge, which will not be recorded in our segment results will primarily be recognized in the third quarter as we complete our review and remove the content.&#8221; <\/p>\n<p>She didn&#8217;t specify any programming.<\/p>\n<p>But, she said, &#8220;going forward, we intend to produce lower volumes of content in alignment with this strategic shift.&#8221;<\/p>\n<p>McCarthy also noted another upcoming $180 million charge for the rest of the company&#8217;s fiscal year, following a hit last quarter of $150 million for severance. Disney is laying off 7,000 staffers and said today it is on track to meet or exceed planned cost savings of $5.5 billion.<\/p>\n<p><em>More to come&#8230;<\/em><\/p>\n<h2>Must Read Stories<\/h2>\n<h3>Solid Q2 Earnings; Dis+ Loses More Subs, But Streaming Losses Lower; Parks Profit Jumps<\/h3>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/deadline.com\/wp-content\/uploads\/2023\/05\/Disney-Plus1.jpg\"><\/p>\n<h3>Fall Sked Doesn&#8217;t Factor In Strike; New Series Trailers; &#8216;Tracker&#8217; To Bow After Super Bowl; More<\/h3>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/deadline.com\/wp-content\/uploads\/2023\/05\/elsbeth-1.jpg\"><\/p>\n<h3>Angelina Jolie Maria Callas Pic Heads To Market; Kravitz &#038; McKenzie Horror; More<\/h3>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/deadline.com\/wp-content\/uploads\/2022\/10\/ang-1.jpg\"><\/p>\n<h3>New Fran Drescher Comments; New Strike Fund; Affected TV Shows List; Chanel Event; More<\/h3>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/deadline.com\/wp-content\/uploads\/2023\/05\/Fran-Drescher-on-picket-line.jpg\"><\/p>\n<h2>Read More About:<\/h2>\n<p>Source: <a href=\"https:\/\/deadline.com\/2023\/05\/disney-pulling-content-off-streaming-in-strategic-rethink-1235362374\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Disney will be yanking content from streaming as it rethinks its costs and strategy, and is looking at a content impairment charge of $1.5 billion [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":132646,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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