The company is reportedly looking to sell its broadcast and cable channels, however, no final decision has been made. Disney released the following statement: “While we are open to considering a variety of strategic options for our linear businesses, at this time The Walt Disney Company has made no decision with respect to the divestiture of ABC or any other property and any report to that effect is unfounded.”

Exiting the traditional TV market has long been a consideration of Disney, with data from Nielsen showing that linear TV viewership fell below 50% for the first time in July. Broadcast TV comprised just 20% of total TV usage, while cable was 29.6%.

The post Disney’s Future in Traditional TV Brought Into Question appeared first on theprimarymarket.com.

Disney reported revenue of $22.33 billion compared to $22.51 billion expected. Its Disney Parks, Experiences, and Products arm narrowly beat the analyst’s predictions with $8.33 billion versus $8.25 billion estimated revenue, but Disney Media and Entertainment Distribution division fell short of 14.36 billion expected. Adjusted earnings per share came at $1.03 versus $0.99 expected.

Disney+ streaming services saw a 7.4% decline compared to the first quarter and now have 146.1 million total subscribers. The analysts expected fewer losses and estimated the streamer would finish Q2 with 154.8 million subscribers.

However, Disney managed to encourage investors by forecasting capital spending of $5 billion, which represents a dip of $1 billion compared to the $6 billion forecast in Q1. The company also announced its intention to start paying dividends again by the end of this year.

Disney’s shares closed at $87.49 on Wednesday, which represents a 1.66% year-to-date loss. The stock climbed as high as $91.98 per share in after-hours trading.

“Our results this quarter are reflective of what we’ve accomplished through the unprecedented transformation we’re undertaking at Disney to restructure the company, improve efficiencies, and restore creativity to the center of our business,” said CEO Bob Iger in a statement.

The post Disney Stock Climbs Amid Lower Capital Spending Forecast appeared first on theprimarymarket.com.

Revenue for the three months ending March 31 was $21.82 billion; on par with Wall Street’s estimates. The company’s Disney Parks, Experiences, and Products unit soared, while the Disney+ streaming platform was able to reduce its losses from the previous quarter.

157.8 million new Disney+ subscribers were added in the first quarter, falling short of an estimated 163.1 million subscribers. While the company’s streaming losses were $1.1 billion in Q1, this is a significant decline from the $1.4 billion losses incurred in Q4 of 2022.

Disney Parks, Experiences, and Products was the strongest performer for the quarter, generating a revenue of $7.78 billion compared to an estimated $7.67 billion.

“We’re pleased with our accomplishments this quarter, including the improved financial performance of our streaming business, which reflect the strategic changes we’ve been making throughout the company to realign Disney for sustained growth and success,” CEO Bob Iger stated in the earnings release. “From movies to television, to sports, news, and our theme parks, we continue to deliver for consumers, while establishing a more efficient, coordinated, and streamlined approach to our operations.”

Shares in the company dipped by 2% following the earnings release.

The post Disney Quarterly Earnings Miss Estimates appeared first on theprimarymarket.com.

In 2022, Comcast’s streaming service Peacock incurred an operating loss of $2.5 billion; a 47% increase from the previous year. Comcast president Michael Cavanagh told investors during an earnings call in January that he expects losses to peak at around $3 billion this year after which they will improve.

Disney’s direct-to-consumer division suffered a loss of over $4 billion for the 2022 fiscal year ending October 1, having spent over $33 billion on content during the course of the year. Disney’s CFO Christine McCarthy claimed during a company earnings call in November that “peak losses are now behind us.”

Reduced losses across the industry are expected to be a result of cost-cutting, with the likes of Paramount Global CEO Bob Bakish stating that his company is set to embrace cost-cutting. This comes after Paramount reported a loss of roughly $1.82 billion in 2022.

The post Comcast And Disney Confident Despite Peak Losses Ahead appeared first on theprimarymarket.com.

According to the memo, such recruitment changes are aimed at bringing the Disney+ streaming service to profitability. “While certain macroeconomic factors are out of our control, meeting these goals requires all of us to continue doing our part to manage the things we can control – most notably, our costs,” Chapek explained.

Disney’s fourth-quarter earnings which were released last week fell short of analysts’ expectations, with much of its losses coming from the company’s efforts to push its streaming services. Shares in the company fell by 13% on Wednesday following the release of the results.

Although Disney+ added 12 million subscribers in its fiscal fourth quarter, the streaming platform also incurred an operating loss of nearly $1.5 billion, as revealed in the company’s fourth-quarter fiscal results.

Chapek revealed that he had appointed a task force to assist him in making decisions regarding Disney’s future.

The post Disney Looks to Freeze Hiring, Cut Jobs Amid Financial Uncertainty appeared first on theprimarymarket.com.

Disney’s business has been doing well all across the board with the Q2 revenue coming at $21.5 billion compared to an expected $21 billion. The company also reported adjusted earnings per share (EPS) of $1.09 versus the $0.96 estimated.

The parks, experience, consumer products segment, and Disney+ streaming service were among the biggest contributors to a successful quarter. The parks, experience, and consumer products unit raked up $7.39 billion in revenue, which is 740 million more than the estimated $6.65 billion. On the other hand, Disney+ added 14.4 million new subscribers in Q2 compared to the 10 million expected and made another big step in becoming the biggest streamer on the market.

Speaking about Disney+, the company announced a significant price hike of monthly subscriptions as part of the Q2 report. The standard plan will see a 38% hike, going from $7.99 to $10.99 a month. The company also plans to introduce an ad-supported plan, which will cost $7.99.

The post Disney’s Shares Up Almost 7% After Q2 Report Beats Wall Street Estimates appeared first on theprimarymarket.com.

The company is reportedly looking to sell its broadcast and cable channels, however, no final decision has been made. Disney released the following statement: “While we are open to considering a variety of strategic options for our linear businesses, at this time The Walt Disney Company has made no decision with respect to the divestiture of ABC or any other property and any report to that effect is unfounded.”

Exiting the traditional TV market has long been a consideration of Disney, with data from Nielsen showing that linear TV viewership fell below 50% for the first time in July. Broadcast TV comprised just 20% of total TV usage, while cable was 29.6%.

The post Disney’s Future in Traditional TV Brought Into Question appeared first on theprimarymarket.com.

Disney reported revenue of $22.33 billion compared to $22.51 billion expected. Its Disney Parks, Experiences, and Products arm narrowly beat the analyst’s predictions with $8.33 billion versus $8.25 billion estimated revenue, but Disney Media and Entertainment Distribution division fell short of 14.36 billion expected. Adjusted earnings per share came at $1.03 versus $0.99 expected.

Disney+ streaming services saw a 7.4% decline compared to the first quarter and now have 146.1 million total subscribers. The analysts expected fewer losses and estimated the streamer would finish Q2 with 154.8 million subscribers.

However, Disney managed to encourage investors by forecasting capital spending of $5 billion, which represents a dip of $1 billion compared to the $6 billion forecast in Q1. The company also announced its intention to start paying dividends again by the end of this year.

Disney’s shares closed at $87.49 on Wednesday, which represents a 1.66% year-to-date loss. The stock climbed as high as $91.98 per share in after-hours trading.

“Our results this quarter are reflective of what we’ve accomplished through the unprecedented transformation we’re undertaking at Disney to restructure the company, improve efficiencies, and restore creativity to the center of our business,” said CEO Bob Iger in a statement.

The post Disney Stock Climbs Amid Lower Capital Spending Forecast appeared first on theprimarymarket.com.

Revenue for the three months ending March 31 was $21.82 billion; on par with Wall Street’s estimates. The company’s Disney Parks, Experiences, and Products unit soared, while the Disney+ streaming platform was able to reduce its losses from the previous quarter.

157.8 million new Disney+ subscribers were added in the first quarter, falling short of an estimated 163.1 million subscribers. While the company’s streaming losses were $1.1 billion in Q1, this is a significant decline from the $1.4 billion losses incurred in Q4 of 2022.

Disney Parks, Experiences, and Products was the strongest performer for the quarter, generating a revenue of $7.78 billion compared to an estimated $7.67 billion.

“We’re pleased with our accomplishments this quarter, including the improved financial performance of our streaming business, which reflect the strategic changes we’ve been making throughout the company to realign Disney for sustained growth and success,” CEO Bob Iger stated in the earnings release. “From movies to television, to sports, news, and our theme parks, we continue to deliver for consumers, while establishing a more efficient, coordinated, and streamlined approach to our operations.”

Shares in the company dipped by 2% following the earnings release.

The post Disney Quarterly Earnings Miss Estimates appeared first on theprimarymarket.com.

In 2022, Comcast’s streaming service Peacock incurred an operating loss of $2.5 billion; a 47% increase from the previous year. Comcast president Michael Cavanagh told investors during an earnings call in January that he expects losses to peak at around $3 billion this year after which they will improve.

Disney’s direct-to-consumer division suffered a loss of over $4 billion for the 2022 fiscal year ending October 1, having spent over $33 billion on content during the course of the year. Disney’s CFO Christine McCarthy claimed during a company earnings call in November that “peak losses are now behind us.”

Reduced losses across the industry are expected to be a result of cost-cutting, with the likes of Paramount Global CEO Bob Bakish stating that his company is set to embrace cost-cutting. This comes after Paramount reported a loss of roughly $1.82 billion in 2022.

The post Comcast And Disney Confident Despite Peak Losses Ahead appeared first on theprimarymarket.com.

According to the memo, such recruitment changes are aimed at bringing the Disney+ streaming service to profitability. “While certain macroeconomic factors are out of our control, meeting these goals requires all of us to continue doing our part to manage the things we can control – most notably, our costs,” Chapek explained.

Disney’s fourth-quarter earnings which were released last week fell short of analysts’ expectations, with much of its losses coming from the company’s efforts to push its streaming services. Shares in the company fell by 13% on Wednesday following the release of the results.

Although Disney+ added 12 million subscribers in its fiscal fourth quarter, the streaming platform also incurred an operating loss of nearly $1.5 billion, as revealed in the company’s fourth-quarter fiscal results.

Chapek revealed that he had appointed a task force to assist him in making decisions regarding Disney’s future.

The post Disney Looks to Freeze Hiring, Cut Jobs Amid Financial Uncertainty appeared first on theprimarymarket.com.

Disney’s business has been doing well all across the board with the Q2 revenue coming at $21.5 billion compared to an expected $21 billion. The company also reported adjusted earnings per share (EPS) of $1.09 versus the $0.96 estimated.

The parks, experience, consumer products segment, and Disney+ streaming service were among the biggest contributors to a successful quarter. The parks, experience, and consumer products unit raked up $7.39 billion in revenue, which is 740 million more than the estimated $6.65 billion. On the other hand, Disney+ added 14.4 million new subscribers in Q2 compared to the 10 million expected and made another big step in becoming the biggest streamer on the market.

Speaking about Disney+, the company announced a significant price hike of monthly subscriptions as part of the Q2 report. The standard plan will see a 38% hike, going from $7.99 to $10.99 a month. The company also plans to introduce an ad-supported plan, which will cost $7.99.

The post Disney’s Shares Up Almost 7% After Q2 Report Beats Wall Street Estimates appeared first on theprimarymarket.com.