Disney Streaming Product Chief Jerrell Jimerson Exits In Layoffs

J. Kim Murphy Bob Chapek, the former Disney CEO who was abruptly ousted from the company last November, is among a group of executives facing a lawsuit claiming violations of securities law for allegedly providing misleading statements and omissions about Disney+ and its subscriber growth. The case, filed by Local 272 Labor Management Pension Fund on May 12 in the U.S. District Court for the Central District of California, also names former Disney executive Kareem Daniel and current CFO Christine McCarthy, as well as the Walt Disney Co. itself, as defendants. The document states that the case seeks a lead plaintiff and judicial determination for a class action suit representing Disney shareholders from Dec. 10, 2020 to Nov. 8, 2022.

Florida’s “Don’t Say Gay” bill and the lawsuit brought by Scarlett Johansson over her share of “Black Widow” streaming revenue. Daniel, formerly Disney’s Film and TV Distribution Head, left shortly after Iger’s return.

Fans who have been waiting to see Avatar: The Way of Water on their favorite streaming platform are in luck!

To paraphrase Neil Young, Bob Chapek is gone from Disney but not forgotten.

James Cameron‘s Avatar: The Way of Water will soon be making its way to both Disney+ and Max (formerly HBO Max) following a historic run in theaters. The sci-fi epic, which debuted 13 years after the release of Cameron’s original Avatar film, will hit both platforms on June 7th, being accompanied there by bonus content featuring filmmakers, cast and crew.

good the movie was, as an eye-popping visual thrill ride – and how emotional resonant its themes were, about animal rights, the sacredness of family and the importance of protecting our ocean – “Avatar: The Way of Water” quickly became a box office behemoth. It was later nominated for several Academy Awards, including Best Picture.

exited the company after more than a decade on Friday to serve as the new chief executive officer of Twitter. “So what was more surprising today, being welcomed by a foul mouthed teddy bear or seeing me up here on stage?,” Lazarus told an audience of advertisers during the company’s Upfront presentation on Monday, referencing a raunchy musical opening from Seth MacFarlane’s Ted.

Todd Spangler NY Digital Editor Shares of Disney slipped as much as 9% in trading Thursday after the media conglomerate reported earnings for the first three months of 2023. Disney’s earnings report showed progress on the cost-cutting front — with streaming losses narrowing for the quarter — but analysts cited a weak advertising outlook and uncertainty over when its streaming business can contribute to the bottom line. As of 11:30 a.m. ET, Disney’s stock price was $92.86/share, down 8.2%, and off its 52-week high of $126.48. Disney+ lost 4 million subscribers for the quarter ended April 1, including a loss of 300,000 in the U.S./Canada. But the company narrowed its streaming losses by $400 million, down 26% year over year, and Disney said it would remove content from Disney+ to cut costs while also expecting to raise prices on the ad-free Disney+ tier. In addition, CEO Bob Iger announced that the company would launch an integrated Disney+/Hulu “one-app experience” in the U.S. by the end of 2023 — indicating Disney’s desire to hold on to Hulu.

Disney is making some big changes to their streaming services – Just Jared Jr President Biden weighs in on the writer’s strike – Celebitchy Melissa McCarthy reveals the social media advice she gave her daughters – Popsugar New couple alert! – Just Jared Jr

Cynthia Littleton Business Editor Disney is going on a diet — but Hulu is still on the menu. Disney CEO Bob Iger and chief financial officer Christine McCarthy delivered a clear message on Wednesday to Wall Street and to Hollywood during Disney’s quarterly earnings call. Disney will cut the overall volume of content produced for its streaming platforms — primarily Disney+ and Hulu — as it deals with a much tighter macroeconomic environment, not to mention the uncertain impact of the writers strike that began May 2. After spending just under $30 billion on content in Disney’s 2022 fiscal year (which ends in September), Iger has targeted $3 billion in savings for 2023. Of that $30 billion, about 30% is devoted to sports rights for ESPN and ABC Sports.

Rebecca Rubin Film and Media Reporter Jenny Tartikoff, the executive VP of global communications at Paramount Pictures, has departed the studio. “I wanted to let you know that Jenny Tartikoff informed me that she will be departing the company, effective today,” Paramount’s president & CEO Brian Robbins said in a statement. “She has been a trusted colleague to us, and I am grateful for her contributions to the studio and our team. Please join me in wishing her the very best.” Tartikoff, a veteran of Universal and Spotify, was hired at Paramount in November of 2021. She reported to Robbins and was responsible for the studio’s corporate communication strategies, including media relations, executive and internal communications and corporate social responsibility.

Disney+ saw its average monthly revenue per user in the U.S. and Canada surge 20% during the second fiscal quarter of 2023, increased from $5.95 to $7.14 due to an “increase in average retail pricing.” CEO Bob Iger told analysts on the company’s quarterly earnings call Wednesday that a recent increase in the price of the streaming service was “de minimis.”The company continued to see losses shrink in its direct-to-consumer division.

The Walt Disney Co. reduced losses in its streaming business by 26% (about $200 million) in its fiscal second quarter as the company’s overall results matched Wall Street expectations.

Disney will be yanking some content from streaming as it rethinks its costs and strategy, and is looking at a content impairment charge of $1.5 billion to $1.8 billion as it does.

Jennifer Maas TV Business Writer Disney+ shed another 4 million subscribers in the first three months of 2023, marking the Disney-owned streamer’s second consecutive quarterly drop after closing 2022 with its first-ever decline. On the bright side, the Mouse House also managed to narrow its streaming business losses by $400 million, down 26% year over year. On Wednesday, CEO Bob Iger and Co. beat Wall Street estimates for Disney’s quarterly earnings and revenue due to an impressive Jan.-March showing at the company’s theme parks. That win comes during a fiscal Q2, which concluded April 1, plagued by companywide layoffs, a looming (and now active) writers strike, and a turf war with Florida Gov. Rick DeSantis.

“Make no mistake: the current position of the studios is a threat to the economic model that for decades has protected tens of thousands of good, union jobs in our industry,” says Directors Guild of America president Lesli Linka Glatter today, one week after the Writers Guild went out on strike.

. It started with , which has accrued over five million views. The video, which is soundtracked to the song “Remember You Omnichord” by Mars Bars, features still shot after shot of Disney princesses: Ariel from ; Aurora from Sleeping Beauty; Belle from Beauty and the Beast; Snow White from *Snow White—*each with their nose ringed in red.

Naman Ramachandran Revenues at Bertelsmann’s Luxembourg-based RTL Group, a media giant which owns Fremantle, slid 9% to €1.4 billion ($1.5 billion) for the first quarter of 2023, financial results released on Thursday have revealed. The group attributes this to “significantly lower TV advertising revenue,” particularly in Germany, and the disposals of RTL Belgium and RTL Croatia. Fremantle’s revenues were down 5.6% to €435 million (Q1/2022: €461 million), mainly due to timing effects of production deliveries, the group said. The group’s total advertising revenue fell to €700 million (Q1/2022: €829 million), of which €545 million represented TV advertising revenue (Q1/2022: €653 million), €76 million digital advertising revenue (Q1/2022: €83 million) and €39 million radio advertising revenue (Q1/2022: €46 million). Distribution revenue was down by 1.8% to €107 million (Q1/2022: €109 million).

Pregnant Paris Fury took her six children to Disneyland Paris with husband, Tyson Fury, and shared exactly how she packed for the large family. The mum-of-six, soon to be seven, took to Instagram on Tuesday to share highlights from the family's trip to Disneyland Paris over the bank holiday weekend.The family travelled by Eurostar, wore matching outfits and posed in Disney-themed hats during their fun-packed trip. Beaming in a post with husband and heavyweight boxing champion Tyson, Paris wrote in the caption: "Adults are only kids grown up anyway."- Walt Disney.