Disney announced that its streaming service, Disney+, saw a reduction of more than 10 million subscribers during the last quarter, largely due to its performance in the Indian market.

At the end of the quarter, Disney+ had 146.1 million subscribers, in contrast to the 158 million registered during the first three months of this year, according to data provided by the company.

On the other hand, Netflix, its direct competitor, recently reported an increase of almost six million subscriptions, the result of its efforts to tackle password sharing.

“While we have faced short-term challenges, I have strong confidence in Disney’s long-term direction,” Disney CEO Bob Iger said during a conference call to present financial results.

Iger told financial analysts that growth over the next five years will be driven by expansion in the streaming arena, successes in film production and theme park performance.

The decline in subscribers to Disney+, except for a minority, was concentrated in India, where the company lost broadcast rights to popular cricket matches earlier in the year.

K. Tovar

Source: Bancaynegocios

(Reference image source: Thibault Penin, Unsplash)

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La entrada Disney+ announced significant loss of subscribers apareció primero en Bitfinance.

The US leisure and entertainment giant The Walt Disney Company has decided to cut 7,000 employees, representing 3.6 percent of its workforce, all in an effort to improve its profit margins.

This was announced this Wednesday by the executive director of the company, Bob Iger, detailing that the restructuring of the company will save them 5,500 million dollars (5,100 million euros) in costs, as reported by the Bloomberg agency.

As part of the change, Disney’s chief executive has also announced that the company will be reorganized into three divisions: an entertainment unit that includes its core film and television businesses, the sports networks ESPN, and the theme parks unit, which includes cruise ships. and product stores.

These changes are aimed at improving profit margins and are part of the transformation that the company has adopted in recent years and that includes a reinforcement of its franchises and the development of its online content platform, as detailed by Iger himself.

Likewise, the cuts respond to the losses registered by the company in its streaming services due to the loss of users, which have doubled in 2022 compared to 2021, with an amount that amounts to 1,050 million dollars (979 million euros). .

Disney is the latest of the large streaming content companies to announce downsizing in response to slower subscriber growth and increased competition for viewers, according to the aforementioned agency.

Source: dpa

(Reference image source: Jose Mizrahi, Unsplash)

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La entrada Disney announces the layoff of 7,000 employees apareció primero en Bitfinance.

Susan Arnold, an American executive, was selected as the next chairman of the Board of The Walt Disney Company to succeed Bob Iger. Arnold has become the first woman to hold that position, ending a nearly 100-year tradition of men leading the giant of the entertainment.

Arnold, who will take office on December 31, expressed through a statement: “I hope to continue serving the long-term interests of Disney shareholders, based on the centennial legacy of creative excellence and innovation of the company.”

Current president, Bob Iger, said: “Susan is an incredibly esteemed executive whose wealth of experience, unwavering integrity and expert judgment have been fundamental to the company since she joined the Board in 2007.”

First woman to lead Disney

Susan Arnold is an experienced American executive, who was born in Pittsburgh, Pennsylvania, USA in 1954. Most of her professional life was spent at the multinational Procter & Gamble (P&G), where she joined in the 1980s and She held different positions until she became the president of the Global Business Unit in 2007.

Later on she entered the fast food restaurant chain McDonald’s Corporation, becoming a member of the Board of Directors between 2008 and 2016. She was also a member of the Board at NBTY, the food supplement company known as The Bountiful Company, between 2013 and 2017. In parallel, she has served on the Disney Board since 2007 and for the last 8 years she has served as an operations executive for the investment and capital management firm The Carlyle Group.

M. Rodríguez

Source: niusdiario.es

La entrada Disney names Susan Arnold as first woman chair apareció primero en Bitfinance.