After the presentation of the Upfronts of Disneythe Hollywood Reporter newspaper had the opportunity to interview the CEO of the multinational, Bob Iger, who admitted the mistakes made in the last period, with losses for 4 billion dollars.
The video streaming platform in particular created the chasm Disney+, managed far too adventurously in an attempt to rival Netflix. Unfortunately for now the rival platform is performing much better results and continues to gain audiences, where Disney+ lost 1.5 million subscribers in the last quarter of 2023, despite a setback in recent months.
A 4 billion hole
According to Iger, the 4 billion losses would be due to the desire to tell the story too many stories: “When we aggressively entered the streaming industry we tried to tell too many stories. We essentially invested too much and way ahead of possible returns. This explains why streaming lost $4 billion.”
The huge losses resulted in a huge cut of already planned shows, with the elimination of some already published to access tax relief. The series is mentioned among the examples of expenses that did not lead to returns She-Hulk: Attorney at Lawwhich cost a total of 225 million dollars, but did not convince the public and attracted a low number of spectators.
Between the end of 2022 and the end of 2023 Disney+ lost around 18 million subscribers, so much so that price increases in subscription ranges are expected in the future, aimed at compensating for the losses. In reality, for some years now Disney has entered a difficult phase, in which it is unable to find the right solution, between a noticeable decline in interest on the part of the public towards super hero films, animated feature films which have produced disappointing results such as the recent Wish or Red by Pixar, and other choices that did not give the desired results. In short, it seems that the company needs to change course in some way, trying to return to the glories of the past.
#Disney #losses #billion #due #Disney #cuts #coming #streaming #content
