XPost: alt.politics.homosexuality, sac.politics, rec.arts.tv
XPost: talk.politics.guns

In article <uc942m$3rb3h$8@dont-email.me>
Gerald <dyndns-gone@protonmail.com> wrote:

Disney made their own bed. Let them smell their own woke gay
tranny shit as they go bankrupt./

The Walt Disney Co. saw its streaming losses narrow in the
second quarter amid an exodus of 12.5 million subscribers from
its Disney+ Hotstar streaming platform in India.

For the quarter, Disney exceeded Wall Street’s targets on
earnings per share but missed on revenue. The Mouse reported
total revenue of $22.3 billion, up 4% from the year-ago quarter,
and operating income of $3.6 billion, down 6%.

Disney executives previously warned Wall Street that subscriber
losses were coming for the Disney+ Hotstar service amid a
strategy shift to move away from low-margin subscribers. The
loss of key sports rights in the region also set the stage for
significant churn on the Hotstar front.

Losses in the direct-to-consumer unit were cut in half compared
to the same period last year. DTC operations delivered a $512
million loss, compared to $1 billion in the same frame in 2022.
Operating income for Disney’s linear networks sank 23% to $1.9
billion on revenue of $6.7 billion, down 6%. Revenue for
Disney’s Parks, Experiences and Products arm was up 13% to $8.3
billion and operating income gained 11% to $2.4 billion.

Disney notched a gain of 800,000 subscribers in other parts of
the world. In the U.S. and Canada, Disney+ lost 300,000
subscribers while the streaming-only side of Hulu gained about
that same number.

“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 Disney CEO Bob Iger. “In the eight
months since my return, these important changes are creating a
more cost-effective, coordinated, and streamlined approach to
our operations that has put us on track to exceed our initial
goal of $5.5 billion in savings as well as improved our direct-
to-consumer operating income by roughly $1 billion in just three
quarters. While there is still more to do, I’m incredibly
confident in Disney’s long-term trajectory because of the work
we’ve done, the team we now have in place, and because of
Disney’s core foundation of creative excellence and popular
brands and franchises.”

On a conference call with Wall Street analysts, Iger made it
clear that Disney is refocused on “rationalizing the volume of
content that we make, what we spend and what markets we invest
in.” Planning for the streaming future nonetheless means finding
“economics designed to deliver significant and sustained
profitability,” he said.

The labor conflict that has Hollywood in a state of paralysis
has delivered a short-term boost for Disney’s larger cost-
cutting goals. Kevin Lansberry, Disney’s newly appointed chief
financial officer, told analysts that content spending for the
company’s fiscal 2023 (which ends in September) will come in at
$27 billion, or about $3 billion less than forecast in part
because of the WGA and SAG-AFTRA strikes.

https://variety.com/2023/biz/news/disney-hotstar-loss-earnings-
1235692323/

--- SoupGate-Win32 v1.05
* Origin: fsxNet Usenet Gateway (21:1/5)