The Walt Disney Company has reported Q3 earnings with revenues at $22.3 billion (€20.2bn) – a 4 per cent growth from the previous year. Although SVoD service Disney+ managed to significantly trim losses (down to $512 million from $1.06 billion a year earlier) subscriber numbers still saw a steep decline, falling from 157.8 million worldwide […]

The Walt Disney Company’s Senior Executive Vice President and Chief Financial Officer Christine M. McCarthy will be stepping down from her role and taking a family medical leave of absence. Veteran Disney executive Kevin Lansberry, Executive Vice President and Chief Financial Officer of Disney Parks, Experiences and Products, will serve as the company’s Interim CFO, […]

The Walt Disney Company, amidst its 100th anniversary, has reported its Q2 2023 earnings. Revenues were at $21.81 billion (€19.94bn), an increase of 13 per cent on the same period last year. Disney+ lost 4 million subscribers (now at 157.8 million), mostly via its Hotstar service in Asia, after losing 2.4 million in the previous […]

The Walt Disney Company is closing 20th Digital Studio, the latest casualty in the most recent round of layoffs. The unit launched in 2008 as Fox Digital Studio to make shortform genre content. It also develops select shorts into longer form content and partners emerging talent with established producers. Several 20th Digital Studio projects streamed […]

The Walt Disney Company is beginning the process of cutting about 7,000 jobs.CEO  Bob Iger said the cuts would start this week and last until the early summer, with the bulk taking place in April. Iger said the measures were needed for Disney to adopt “a more effective, co-ordinated and streamlined approach to our business”. […]

Activist investor Nelson Peltz has called off his fight with The Walt Disney Company a day after the unveiling of a restructuring plan involving the loss of 7,000 jobs. The move removes a distraction for CEO Bob Iger, who is seeking to steer the company’s loss-making streaming services towards profitability. Disney shares are up 18 […]

The Walt Disney Company has announced a major restructuring under reinstated CEO Bob Iger, which will see some 7,000 jobs cut – an estimated 3.6 per cent of its global workforce – as part of an effort to save $5.5 billion (€5.1bn) in costs, and make its streaming business profitable. Iger specified he intends to […]

Michael Nathanson, senior analyst at MoffettNathanson (MN), is on record as welcoming the return to Disney of Bob Iger. MN promptly upgraded its advice to clients on Disney last November (to ‘Outperform’) following Iger’s re-appointment. But MN’s latest study lists in some detail the tasks ahead for Iger. “Iger’s return will force Disney to have […]

Disney’s new / old boss has told staff who are working from home to return to the office four days a week from March. Bob Iger said hybrid workers will be asked to treat “Monday through Thursday as in-person workdays”, according to an email, reported CNBC. “As I’ve been meeting with teams throughout the company […]

Analysts at MoffettNathanson (MN) welcomed the return of Bob Iger as CEO. They were not alone. The market responded well to his rehire, but now MN rightly asks ‘What’s next?’ and recognises the tough tasks ahead for Iger and his team. “Cord-cutting is now running over -6 per cent, the Parks [division] cash engine can […]