ICYMI: After reporting a loss of 4M subscribers, Disney CFO Christine McCarthy says the company will... ❌ Pull some content off their streaming services. 🔽 Produce less moving forward. 🤑 Increase Disney+'s price. 🟩 Plan a content merge with Hulu. 📲
Disney CFO Christine McCarthy says the company will be pulling some content off their streaming services and will also produce less moving forward. On top of that, Disney revealed plans to increase the price of Disney+, after reporting a loss of four million subscribers on the back of losing rights to stream the Indian Premier League cricket. While Disney+ is Disney's main streaming platform, the company also has a 67% majority stake in Hulu.
We are in the process of reviewing the content on our DTC [Direct-to-Consumer] services to align with the strategic changes in our approach to content curation. As a result, we will be removing certain content from our streaming platforms, and currently expect to take an impairment charge of approximately $1.5 to $1.8 billion. The charge, which will not be recorded in our segment results will primarily be recognized in the third quarter as we complete our review and remove the content.
He also promised that Disney will "continue optimizing our pricing model to reward loyalty and reduce churn, to increase subscriber revenue for the premium ad-free tier and drive growth of subscribers who opt for the lower cost ad-supported option." Iger also clarified that while the subscription cost hike impacted subscription growth, it wasn't in a substantial way:
What Could Disney Pull From Streaming Services? This strategy is one that fellow streaming service HBO Max has employed, much to subscribers' displeasure. McCarthy did not specify what content would be pulled from streaming, nor which services the new plan will impact. Since Disney+ is Disney's primary streaming platform, containing big franchises like the Marvel Cinematic Universe and Star Wars, it will likely be Disney's focus for their new strategy.
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