Success with streaming not enough to prevent layoffs at Disney
Company executives say thousands of people will lose their jobs by March 2021.
The Walt Disney Company ($DIS) is an American mass media conglomerate that owns broadcast television, cable television and radio networks; theme parks, movie studios and the Disney+ streaming app. Its properties include ABC, 21st Century Fox, FX and Disney Plus. It co-owns cable sports channel ESPN with Hearst Communications.
Company executives say thousands of people will lose their jobs by March 2021.
The popular NFL Sunday Ticket sports package could wind up with a new home in less than two years.
“Peter Pan,” “Pinnochio” and “Cruella” could land on the family-friendly streamer instead of movie theaters.
Streaming services that offer top-tier news and sports channels will have to keep raising fees if they want to break even, experts say.
Executives said they were pleased with how Mulan performed, though they didn’t say how many subscribers paid the premium price tag for it.
Some Comcast customers were confused Friday night after seeing two social media posts from Disney that claimed they’d lost access to FX and the National Geographic Channel.
Hulu told customers they will lose regional Fox Sports networks and other Sinclair-owned sports channels on Friday.
Customers in several European countries reported problems accessing Disney’s blockbuster streaming service Disney Plus on Monday.
Disney is struggling to figure out what it should do with Hulu before it acquires Comcast’s 30 percent stake in 2024.
Some Hulu customers have received an email warning that they may lose local channels operated by Nexstar Media Group.