Disney television unit hit with 140 layoffs, including cuts at National Geographic
4 months, 3 weeks ago

Disney television unit hit with 140 layoffs, including cuts at National Geographic

LA Times  

The cuts come as Disney continues to cut costs in an attempt to save money and stem losses from its streaming business. Walt Disney Co.’s television division is laying off about 2% of its workforce, or 140 people, as the Burbank media and entertainment giant continues a companywide cost-cutting plan. The cuts at Disney Entertainment Television will primarily affect National Geographic, Freeform and locally owned TV stations, as well as marketing and publicity teams, according to a person familiar with the matter who was not authorized to comment publicly. The layoffs come as Disney continues to cut costs in an attempt to save money and stem losses from its streaming business.

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History of this topic

Disney’s streaming business is profitable. Has direct-to-consumer hit a turning point?
1 month ago

Disney’s streaming business is profitable. Has direct-to-consumer hit a turning point?

LA Times  

It took billions of dollars in losses, a company-wide overhaul, cost-cutting and price hikes to get there, but Bob Iger and Walt Disney Co. appear to have reached a long-awaited turning point in the streaming business. Disney’s fourth quarter earnings were also buoyed by a strong showing from its resurgent film studios, which put out big hits with “Deadpool & …

More cuts at Disney as ABC News and TV stations shed 75 jobs
2 months, 3 weeks ago

More cuts at Disney as ABC News and TV stations shed 75 jobs

LA Times  

Another round of layoffs hit the Walt Disney Co. as the company eliminated 75 positions at ABC’s television stations and news division Wednesday. The cuts were equally distributed among ABC News and the company’s eight owned and operated broadcast outlets including KABC in Los Angeles. “As we look to the future and refining a team that is not only capable …

Disney cuts 300 corporate staffers in latest wave of layoffs
2 months, 4 weeks ago

Disney cuts 300 corporate staffers in latest wave of layoffs

LA Times  

Disney’s studio lot in Burbank is shown. Walt Disney Co. has initiated a fresh round of layoffs, with corporate employees emerging as the latest victims of the Burbank media and entertainment giant’s ongoing $7.5-billion cost-cutting effort. In a statement provided Thursday to The Times, the House of Mouse said it is looking to manage its resources and costs “more effectively” …

Disney and DirecTV: Why this TV rights battle might determine the fate of traditional television.
3 months, 2 weeks ago

Disney and DirecTV: Why this TV rights battle might determine the fate of traditional television.

Slate  

Like a typical millennial, I don’t have a cable subscription, and I don’t have many friends who do. - RC pic.twitter.com/9PdnBymi2r — Governor Roy Cooper September 6, 2024 It’s unclear when things will resolve, although Puck News’ John Ourand is guessing that, according to his “best sources,” Disney and DirecTV “will reach an agreement by early next week, probably before …

What to know about the Disney, ESPN blackout on DirecTV
3 months, 3 weeks ago

What to know about the Disney, ESPN blackout on DirecTV

LA Times  

DirecTV and U-Verse customers lost access to ESPN programming just before the start of the USC-LSU college football game in Las Vegas. More than 10 million DirecTV and U-Verse video customers were swept up in the feud when DirecTV lost its rights to carry Disney programming — including Disney-owned ABC television stations. Disney has long required pay-TV companies to carry …

What’s behind Hollywood’s latest wave of layoffs? The business is in reset mode
4 months ago

What’s behind Hollywood’s latest wave of layoffs? The business is in reset mode

LA Times  

Editor’s note: Wide Shot will be off next week, with Hollywood Inc. senior editor Ryan Faughnder taking vacation. As part of that effort, the struggling media giant closed down Paramount Television Studios, the unit responsible for streaming shows such as “Reacher” and “The Offer.” Up to 30 people employed by the Nicole Clemens-led division lost their jobs as the group’s …

Disney’s streaming business turns a profit in first financial report since challenge to Iger
7 months, 2 weeks ago

Disney’s streaming business turns a profit in first financial report since challenge to Iger

Associated Press  

The Walt Disney Co. swung to a loss in its second quarter because of restructuring and impairment charges, but its adjusted profit topped expectations and its streaming business turned a profit. While Disney said Tuesday that it foresees its overall streaming business softening in the current quarter due to its platform in India, Disney+Hotstar, it expects its combined streaming businesses …

Disney posts solid Q1 results thanks to its theme parks and cost cuts
10 months, 2 weeks ago

Disney posts solid Q1 results thanks to its theme parks and cost cuts

Associated Press  

SAN FRANCISCO — The Walt Disney Co. on Wednesday posted stronger-than-expected earnings for the final three months of 2023, boosted by cost cuts and growing revenue from its theme parks business. And it plans to launch a stand-alone ESPN streaming service in 2025 — different from the sports streaming platform it plans to launch this fall in a joint venture …

Disney reports sharp profit growth in the fourth quarter and an expansion of its cost-cutting drive
1 year, 1 month ago

Disney reports sharp profit growth in the fourth quarter and an expansion of its cost-cutting drive

Associated Press  

SAN FRANCISCO — Walt Disney Co. on Wednesday reported sharp profit growth for its fiscal fourth quarter while announcing an expansion of its cost-cutting drive under returning CEO Bob Iger. In a call with analysts Wednesday, Iger said the company’s focus on cost-cutting has “enabled tremendous efficiency” and the company based in Burbank, California, is on track to reduce expenses …

Behind Disney’s Spectrum blackout: A ‘proxy battle’ for the future of television
1 year, 3 months ago

Behind Disney’s Spectrum blackout: A ‘proxy battle’ for the future of television

LA Times  

Disney Chief Executive Bob Iger said during this summer’s Allen & Co. Sun Valley Conference in Idaho that Disney would eventually offer ESPN directly to sports fans, bypassing cable and satellite TV operators. “The money that the distributors pay for these channels is relevant, but this dispute is more about giving Charter flexibility to offer Disney and ESPN content any …

Disney raises price of streaming service as Iger cuts costs
1 year, 4 months ago

Disney raises price of streaming service as Iger cuts costs

The Telegraph  

Disney is raising the prices of its streaming service by more than a quarter as chief executive Bob Iger pushes to increase profitability. Mr Iger made a surprise comeback earlier this year after an 11-month absence, returning after shareholders grew frustrated at the company’s performance under his successor, Bob Chapek. Its latest Pixar animated film, Elemental, has endured a luke-warm …

Disney CEO Earning About $27 Million A Year Calls Strike By Writers And Actors ‘Disturbing’
1 year, 5 months ago

Disney CEO Earning About $27 Million A Year Calls Strike By Writers And Actors ‘Disturbing’

Huff Post  

Bob Iger, CEO of Disney, walks to lunch at the Allen & Company Sun Valley Conference on July 12, 2023 in Sun Valley, Idaho. Kevin Dietsch via Getty Images Disney CEO Bob Iger said striking writers and actors, who are fighting for equitable wages and working conditions while entertainment CEOs have profited immensely from the rise of streaming, complained Thursday …

Disney’s ABC, ESPN Weakness Adds Pressure to Make Streaming Profitable
1 year, 7 months ago

Disney’s ABC, ESPN Weakness Adds Pressure to Make Streaming Profitable

Live Mint  

Disney’s traditional television business has gone from superhero to weak link in just a few short quarters. Operating income from Disney’s parks, experiences and products unit has exceeded that of the linear-TV business for two consecutive quarters for the first time since Disney launched its streaming business. “We would joke 10 years ago that the company could be called ESPN …

Disney+ sheds 4 million subscribers ahead of new layoffs
1 year, 7 months ago

Disney+ sheds 4 million subscribers ahead of new layoffs

India TV News  

The Walt Disney Company's leading streaming service, Disney+, saw a decline of four million subscribers in its second quarter, which ended on April 1st. The main reason for the decline in Disney+Hotstar's subscriber base is believed to be the loss of streaming rights for the Indian Premier Cricket League, which led to a decrease in Indian subscribers. In a statement, …

Disney Layoff: Around 4000 employees might lose their jobs
1 year, 7 months ago

Disney Layoff: Around 4000 employees might lose their jobs

India TV News  

Disney Layoff: Disney, an entertainment giant kicked off its second round of layoffs yesterday, which will affect the lives of 4,000 employees working in the company. In a note to employees, the company has said, "The senior leadership teams have been working diligently to define our future organisation, and our biggest priority has been getting this right, rather than getting …

Disney starts 2nd round of layoffs across parks, ESPN
1 year, 7 months ago

Disney starts 2nd round of layoffs across parks, ESPN

Associated Press  

The Walt Disney Co. will be laying off several thousand employees this week, a second round of cuts that’s part of a previously announced plan to eliminate 7,000 jobs this year. The company previously said that it doesn’t expect the job cuts to impact hourly frontline operations roles at its parks and resorts. Disney anticipates a third round of job …

Disney begins second round of layoffs; staff reductions to reach 4,000 this week
1 year, 8 months ago

Disney begins second round of layoffs; staff reductions to reach 4,000 this week

LA Times  

By this Thursday, Walt Disney Co., under CEO Bob Iger, is expected to reach 4,000 of the 7,000 targeted staffing eliminations it promised investors earlier this year. Walt Disney Co. on Monday begins notifying more employees of layoffs, according to Disney officials, marking a second wave of job reductions that are part of a broader cost-cutting effort by the Burbank …

Disney plans to cut 3% of its total global workforce in a cost-saving move
1 year, 8 months ago

Disney plans to cut 3% of its total global workforce in a cost-saving move

NPR  

Disney plans to cut 3% of its total global workforce in a cost-saving move Disney has begun the first of three rounds of layoffs, which CEO Bob Iger said in a memo will eventually total 7,000 jobs. MARTÍNEZ: Here to talk about what this means for Disney and consumers of its entertainment brands is NPR TV critic and media analyst …

Disney considers layoffs, nearly 4,000 employees at risk of job loss in April
1 year, 9 months ago

Disney considers layoffs, nearly 4,000 employees at risk of job loss in April

Live Mint  

Entertainment conglomerate Disney after announcing plans to eliminate 7,000 jobs in February's earning call, is considering to lay off at least 4,000 current employees in April, reported Business Insider on March 18. Apart from this, Disney has also announced that a reduction will be done in general entertainment aimed at adults and considering options for what to do with the …

Disney to cut 7,000 jobs in Iger’s company ‘transformation’
1 year, 10 months ago

Disney to cut 7,000 jobs in Iger’s company ‘transformation’

Associated Press  

LOS ANGELES — The Walt Disney Co. will cut about 7,000 jobs as part of an ambitious companywide cost-savings plan and “strategic reorganization” announced Wednesday by CEO Bob Iger. In a statement, Iger said Disney is embarking on a “significant transformation” that management believes will lead to improved profitability at the company’s streaming business. The company’s direct-to-consumer business, which includes …

Media layoffs mount as CNN announces it will make cuts this week
2 years ago

Media layoffs mount as CNN announces it will make cuts this week

LA Times  

CNN employees are in for a rough week as the news network’s chief, Chris Licht, told staff to prepare for a round of layoffs. Like the rest of the traditional TV business, CNN is also looking at a future with slowed growth in pay-TV subscription revenue and a softening advertising market. CNN is among a growing list of media entities …

Walt Disney plans to freeze hiring, cut some jobs: Report
2 years, 1 month ago

Walt Disney plans to freeze hiring, cut some jobs: Report

Live Mint  

Walt Disney Co plans to freeze hiring and cut some jobs, a memo seen by Reuters has reported on Friday. It was sent to Disney's division leaders, saying the company is instituting a targeted hiring freeze and anticipates "some small staff reductions" as it looks to manage costs. Wall Street analysts voiced concern about Disney's escalating streaming costs, with MoffettNathanson …

As streaming services get frugal, programming changes throw Hollywood creators for a loop
2 years, 4 months ago

As streaming services get frugal, programming changes throw Hollywood creators for a loop

LA Times  

Welcome to the Wide Shot, a newsletter about the business of entertainment. An HBO Max spokesperson said: “Live-action kids and family programming will not be part of our programming focus in the immediate future, and as a result, we’ve had to make the very difficult decision to end ‘Gordita Chronicles’ at HBO Max.” It’s worth noting that streaming services aren’t …

Disney+ launching cheaper, ad-supported version in U.S. later this year
2 years, 9 months ago

Disney+ launching cheaper, ad-supported version in U.S. later this year

LA Times  

Disney+ is trying to reach up to 260 million subscribers by 2024. Streaming service Disney+ is launching a cheaper version with commercials late this year in the U.S. as Walt Disney Co. tries to improve its chances of hitting its subscriber goals. https://t.co/EsffdGY0nd — Rich Greenfield, LightShed 🔦 March 3, 2022 Disney Chief Executive Bob Chapek has set a goal …

Disney+ growth has slowed. That’s bad news for Disney
3 years, 7 months ago

Disney+ growth has slowed. That’s bad news for Disney

CNN  

New York CNN Business — Streaming has carried Disney through the pandemic with Disney+ growing to more than 100 million subscribers. As for Disney’s revenue, that also was soft, coming in at $15.6 billion for the quarter, 13% below last year’s figure, the company said in its second quarter earnings announcement. On Thursday, Disney announced “Jungle Cruise,” a film starring …

Disney cuts 4,000 more jobs, blaming virus-related theme park closures
4 years ago

Disney cuts 4,000 more jobs, blaming virus-related theme park closures

LA Times  

Walt Disney Co. announced an additional 4,000 job cuts after virus lockdowns forced the closing of its theme parks. The action takes the number of layoffs in the first half of fiscal 2021, mostly at Disney’s parks, experiences and products divisions, to 32,000 — more than 10% of its total workforce. Results earlier this month revealed how the COVID-19 pandemic …

ESPN to cut 500 jobs as COVID-19 erodes revenues
4 years, 1 month ago

ESPN to cut 500 jobs as COVID-19 erodes revenues

LA Times  

ESPN is slashing 500 jobs as cost pressures from the pandemic is speeding up the sports media company’s move into streaming. ESPN is slashing 500 jobs as cost pressures from the COVID-19 pandemic are accelerating the sports media company’s move into streaming. “Prior to the pandemic, we had been deeply engaged in strategizing how best to position ESPN for future …

Disney is set to overhaul its entertainment business with focus on streaming
4 years, 2 months ago

Disney is set to overhaul its entertainment business with focus on streaming

CNN  

New York CNN Business — If there was any question that Disney+ is the center of Disney’s media empire, the company took away all doubt on Monday. Disney announced a major reorganization of its media and entertainment business on Monday to “further accelerate” its streaming strategy. “These moves will not only result in higher quality content, and focused distribution, but …

Activist investor to Disney: Double your streaming content budget
4 years, 2 months ago

Activist investor to Disney: Double your streaming content budget

LA Times  

Walt Disney Co. has already made a high-stakes bet to transform itself into a streaming video giant with Disney+. By suspending its $3-billion dividend, Disney could “more than double” its budget for producing and acquiring content for its streaming services, including Disney+, Loeb wrote. “With Disney’s superior tentpole franchises and production capabilities, we believe that the company can exceed the …

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