Disney Financial News

Disney Chief Executive Bob Iger on Wednesday said he was committed to finding a solution to the Hollywood writer and actor strikes, citing his «deep respect» for creative professionals, as he signaled a turn from comments that inflamed tensions last month. Iger last month told striking actors that their demands were «not realistic.» The Hollywood writers' strike entered its 100th day on Wednesday with contract talks stalled and people on the picket lines protesting what they say is a disregard for their demands. The actors strike started less than a month ago. The growth of artificial intelligence has been a key issue for union members, who fear that it could replace their creative input.

Investing.com — The Dow closed higher Thursday, supported by a jump in Disney after giving up the bulk of its gains as a climb in Treasury yields weighed on sentiment even as data showed further signs of easing inflation.

NEW DELHI : The loss of Indian Premier League (IPL) streaming rights blew a hole in the subscriber base of Disney+ Hotstar in the June quarter, with 12.5 million users choosing not to renew their subscriptions. Walt Disney Co. said the subscriber base at its video streaming platform shrank 24% from 52.9 million to 40.4 million, the sharpest fall in any quarter yet.

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Disney ’s era of budget-priced streaming video packages and galloping subscriber growth has come to an end. For the second time in about a year, Disney unveiled a round of major price increases to its streaming products, raising the cost of the ad-free versions of Disney+ and Hulu by more than 20% each. The company also vowed to crack down on password-sharing , an effort that streaming rival Netflix started in earnest earlier this year.

Investing.com — U.S. futures rose Thursday, with investors awaiting a key inflation release which could provide clues towards future Federal Reserve interest rate decisions.

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Investing.com — Investors are gearing up for the release of key U.S. inflation data that could factor into future policy decisions taken by the Federal Reserve. Disney shares move higher premarket after the entertainment giant announces price hikes on its streaming platform, but boss Bob Iger says the company is considering options for its flagging TV business. Elsewhere, China expresses «serious concern» over a U.S. ban on some investments in the country's tech sector, hinting at a potential retaliation.

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Bob Iger's urgent need to overhaul Disney — to turn its streaming division into a profitable enterprise and pull back on its troubled traditional television business — came into sharp relief Wednesday. Disney's streaming operation lost $512 million in the most-recent quarter, the company said, bringing total streaming losses since 2019, when Disney+ was introduced, to more than $11 billion. Disney+ lost roughly 11.7 million subscribers worldwide in the three months that ended July 1, for a new total of 146.1 million.

Disney Co. CEO Bob Iger vowed to make its streaming services profitable via a planned October price hike on its ad-free Disney+ and Hulu plans and a crackdown on password sharing expected to extend through next year. The increases will raise the monthly cost of ad-free Disney+ by $3, or roughly 27%, to almost $14.

inflation data that could influence Federal Reserve interest rate decisions. «The markets today are just kind of waffling around. And the reason for that is tomorrow is going to be the CPI report for July being released», said Jason Krupa, vice president of asset management at Lenox Advisors.

Techcrunch, “We actually have been looking at multiple markets around the world with an eye toward prioritizing those that are going to help us turn this business into a profitable business. What that basically means is there are some markets that we will invest less in local programming but still maintain the service." Bob Iger has also promised to turn the company profitable once again with a hike in prices of its ad-free Disney and Hulu plans from October this year and a crackdown on password sharing which is expected to commence from next year. While terming the near-term environment as ‘challenging’, Iger said, “I returned to Disney in November, and I've agreed to stay on longer, because there was more to accomplish before our transformation is complete," The media conglomerate plans to raise the price of its ad-free Disney plan by $3, or about 27 per cent, to $14.

By Danielle Broadway and Dawn Chmielewski

Investing.com — Stock futures rose in overnight trading on Wednesday, following modest gains among major benchmark indices, with investors monitoring incoming earnings results ahead of a key consumer price index reading that could affect the trajectory of interest rates in the future.

Check out the companies making headlines after the bell.

By Dawn Chmielewski and Danielle Broadway

By Dawn Chmielewski

Investing.com — Walt Disney reported Wednesday mixed fiscal third-quarter results as revenue missed Wall Street estimates as momentum in its streaming business slowed, but the company detailed plans to hike prices for its streaming business to boost growth.  

Walt Disney Company to Apple. While the idea of an Apple-Disney merger has been circulating for years, particularly due to Steve Jobs' past involvement on the Disney board, it hasn't materialized thus far. Some executives view it as an improbable notion. Nevertheless, as tech giants continue to carve out their share of the entertainment industry to cater to streaming audiences, the concept gains traction. Disney CEO Bob Iger has left room for such a merger in recent statements, although he indicated it's not currently in his immediate plans. As the entertainment landscape evolves, the feasibility of an Apple-Disney merger seems to grow. Tech companies are actively seeking content for their streaming platforms, leading to a more logical synergy between the two giants. However, Iger's comments suggest that the notion is not an immediate priority. To facilitate such a merger, Disney could potentially streamline its operations by divesting certain assets. Disney's CEO hinted at the possible sale of linear television assets, including ABC and FX, which could make the company a leaner and more appealing prospect for acquisition by Apple. This strategic move could signal a step towards the realization of an Apple-Disney partnership. One of the key challenges involves determining an appropriate purchase price. Additionally, government regulations under the Biden administration could impact the deal's feasibility. Regulatory bodies like the Federal Trade Commission (FTC) and the Justice Department have increased scrutiny on significant corporate mergers, exemplified by their successful intervention in Paramount's proposed sale of Simon and Schuster to Penguin Random House.

By Bansari Mayur Kamdar and Johann M Cherian