Disney+ SVP of Marketing Trevor Kelley Out as Part of Company-Wide Layoffs (Exclusive)

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.

second fiscal quarter of 2023, CEO Bob Iger addressed the artificial intelligence elephant in the room, making it clear that Disney isn’t shying away from the technological frontier — quite the opposite, in fact.“AI developments represent some pretty interesting opportunities for us,” Iger said. “In fact, we’re already starting to use AI to create some efficiencies and ultimately to better serve consumers.”Beyond confirming that AI has already found a home within the house of the mouse, Iger addressed the natural challenges that come with any new, disruptive technology, including the managerial complexities.“It could be extremely difficult to manage, particularly from an IT management perspective,” Iger said, referring to the tech’s advanced nature.

Disney chief executive Bob Iger weighed in on AI today, staying general but calling the battleground technology good for Disney’s business, but disruptive.

combined into one app offering by the end of the year on Wednesday, Disney CEO Bob Iger has suggested that the future of the hybrid subscription/ad-supported streamer remains in the hands of rival Comcast. Under a 2019 put/call agreement, Disney can buy out the NBCUniversal parent’s 33% minority stake in Hulu as early as January 2024 – and Comcast can require that Disney do so.

What many saw as inevitable has finally come to pass. During the company’s annual earnings call, Disney CEO Bob Iger revealed that the Walt Disney Company will roll out a singular streaming app by the end of 2023.

William Earl Disney CEO Bob Iger criticized Florida governor Ron DeSantis’s political moves in Florida on the company’s May 10 Q2 earnings call. The business-political feud was brought up as a result of a shareholder asking about the parks in Florida while there are political battles with the governor. “Regarding Florida, I got a few things I want to say about that bill,” he said. “First of all, if the case that we filed last month, made our position and the facts very clear, and that’s really that this is about one thing and one thing only and that’s retaliating against us for taking a position about pending legislation. And we believe that in us taking that position we are merely exercising our right to free speech. Also, this is not about special privileges or a level playing field or Disney in any way using its leverage around the state of Florida.

Todd Spangler NY Digital Editor Disney is pulling Hulu tighter into the Mouse House. On Disney’s earnings call Wednesday, CEO Bob Iger said the company will soon launch a “one-app experience” in the U.S. that incorporates Hulu content into Disney+. The new combined offering will launch by the end of 2023, he said. “While we will continue to offer Disney+, Hulu and ESPN+ as standalone options, this is a logical progression of our [direct-to-consumer] offerings that will provide greater opportunities for advertisers while giving bundle subscribers access to more robust and streamlined content, resulting in greater audience engagement and ultimately leading to a more unified streaming experience,” Iger said.

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 roll out a single streaming app with programming from ESPN+, Hulu and Disney+ by the end of this year.

were expecting Disney to report earnings of $0.88 per share on revenue of $21.7 billion. Disney shares closed Wednesday at $101.13 per share, down 1% today and 13.7% YTD.

Gabe is challenging Mahmoud over how he treats Nicole in this intense clip from part one of this season of 's tell-all special. In this exclusive clip, Gabe accuses Mahmoud of suppressing Nicole and forcing her to follow Islam and Mahmoud quickly loses his temper.Mahmoud and Nicole have been arguing all season long over her trouble adapting to Islam and the more conservative culture in Egypt.

Ron DeSantis is claiming victory over silencing Disney following their public feud after the entertainment company openly opposed the so-called “Don’t Say Gay” bill that was signed into law by the Florida governor.

Disney’s seemingly successful efforts to outfox Florida Gov. Ron DeSantis’ power grab to control the area around Disney World are “not even worth the paper they were printed on,” according to a countersuit filed Monday by the GOP presidential aspirant’s replacement board.

Stacey Solomon has unveiled her first ever tattoo and it's a sweet tribute to her husband Joe Swash.

Kate Forbes has been forced to deny she is planning to oust Humza Yousaf as First Minister just weeks after the pair fought a bitter leadership contest.

is the unexpected hit series depicting what it's like to be part of the American jury process. But the conceit here is that the documentary-style show is fake, and the only person who didn't know it at the time was Ronald Gladden, an unsuspecting participant who thought they were reviewing a real case during the duration of filming. While Gladden eventually learned the truth by the end, the show has become a hit thanks to its quirky humor and the breakout star's even-keeled, good-natured demeanor.

Jerrell Jimerson, chief product officer for Disney Streaming, is departing the company amid ongoing layoffs.

The war between the Walt Disney Company and Florida Governor Ron DeSantis just opened up a whole new front in the courts.

introduced in February by CEO Bob Iger, indicating that a third and final round of the layoffs is expected to bring them to that mark before the summer. “These are hard decisions and not ones we take lightly — but every decision has been made with considerable thought,” Walden and Bergman said in the memo.