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Disney’s third-quarter results were mixed, despite ongoing streaming issues and significant restructuring expenses due to content removal from various platforms. Disney+ had 146.1 million subscribers during the most recent quarter, which was 7.4% lower than expected by analysts. The company reported a 24% decrease in subscriber losses after losing the rights to Indian Premier League cricket matches.
On July 18, 2023, the Writers Guild of America and the Screen Actors guild positioned themselves in a picket line outside Disney Studios in Burbank, California. Robyn Beck | AFP | Getty Images captured the action.
During an earnings call, Bob Iger, the CEO of Disney, stated that three businesses, including film studios, parks, and streaming, will drive the most growth and value creation over the next five years.
The Refinitiv consensus survey indicates that revenue was $22.33 billion higher than the projected figure of $22.5 billion, with an adjusted share price of $1.03 compared to 95 cents per share.
Refinitiv Disney+ reported total subscriptions at 146.1 million compared to projected figures of 151.1 million, with StreetAccount reporting that Disney experienced a net loss of only $2.65 billion in the quarter ended July 1. This was primarily due to impairments and one-time charges related to content removal from streaming platforms, as well as other third-party licensing agreements.
Both segments and studios