Disney lays off 7,000 as streaming subscribers decline

Philippines News News

Disney lays off 7,000 as streaming subscribers decline
Philippines Latest News,Philippines Headlines
  • 📰 inquirerdotnet
  • ⏱ Reading Time:
  • 46 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 86%

Entertainment giant Disney said it was laying off 7,000 employees, as CEO Bob Iger announced a reorganization of the company he returned to lead last year. | AFP

“We are going to take a really hard look at the costs for everything that we make, both across television and film,” Iger said.The storied company founded by Walt Disney said its streaming service saw its first ever fall in subscribers last quarter as consumers cut back on spending.

“There are still big challenges ahead for Disney,” Insider Intelligence principal analyst Paul Verna said in a note to investors. “I think we might have gotten a bit too aggressive in terms of our promotion; and we are going to take a look at that.”Disney remains devoted to blockbuster franchises that include recent Marvel superhero film “Black Panther: Wakanda Forever,” and has sequels in the works to hit animation films “Frozen” and “Zootopia,” Iger said.

Iger, who stepped down as CEO in 2020 after nearly two decades helming the storied company, was brought back after the board of directors ousted his replacement Bob Chapek. It was disappointed in his ability to rein in costs. Disney is also caught in a spat with Florida governor Ron DeSantis who is looking to wrest back control of the area around Walt Disney World that has until now been controlled by the entertainment giant.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

inquirerdotnet /  🏆 3. in PH

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Disney lays off 7,000 as streaming subscribers declineDisney lays off 7,000 as streaming subscribers declineEntertainment giant Disney said it was laying off 7,000 employees, as CEO Bob Iger announced a reorganization of the company he returned to lead last year. | via philstarlife
Read more »

LOOK: Janella Salvador swaps signature long hair for bright orange bobLOOK: Janella Salvador swaps signature long hair for bright orange bobJanella Salvador has traded her ash blonde highlights for a bright orange bob haircut, which she debuted just a few days before her show “Darna” comes to an end. On Instagram, Salvador
Read more »

Disney+ in Hong Kong drops ‘The Simpsons’ episode with ‘forced labor’ mentionDisney+ in Hong Kong drops ‘The Simpsons’ episode with ‘forced labor’ mentionAn episode of “The Simpsons” that refers to “forced labor camps” in China is nowhere to be found on the Disney+ streaming service in Hong Kong amid growing censorship concerns in the city. | AFP
Read more »

Muntinlupa police arrest 49 wanted persons; seize P551,000 illegal drugs in JanuaryMuntinlupa police arrest 49 wanted persons; seize P551,000 illegal drugs in JanuaryThe Muntinlupa police arrested 49 wanted persons, confiscated nearly P551,000 worth of illegal drugs and recorded 10 incidents of major crimes in January.
Read more »

Tricycle driver arrested for dealing P520,000 worth of shabu in Quezon buy-bustTricycle driver arrested for dealing P520,000 worth of shabu in Quezon buy-bustA drug pusher who was previously arrested on drug offense in Muntinlupa City was arrested anew, this time for dealing P520,000 worth of shabu during a buy-bust operation in Purok 4, Barangay Mangilag Sur on Tuesday early morning, Feb. 7 in this town.
Read more »

Disney lays off 7,000 as streaming subscribers declineDisney lays off 7,000 as streaming subscribers declineEntertainment giant Disney said Wednesday it was laying off 7,000 employees, as CEO Bob Iger announced a reorganization of the company he returned to lead last year. READ:
Read more »



Render Time: 2025-02-19 06:17:44