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In article <uc942m$3rb3h$[email protected]>
Gerald <[email protected]> wrote:

Disney made their own bed. Let them smell their own woke gay
tranny shit as they go bankrupt./

The Walt Disney Co. saw its streaming losses narrow in the
second quarter amid an exodus of 12.5 million subscribers from
its Disney+ Hotstar streaming platform in India.

For the quarter, Disney exceeded Wall Street�s targets on
earnings per share but missed on revenue. The Mouse reported
total revenue of $22.3 billion, up 4% from the year-ago quarter,
and operating income of $3.6 billion, down 6%.

Disney executives previously warned Wall Street that subscriber
losses were coming for the Disney+ Hotstar service amid a
strategy shift to move away from low-margin subscribers. The
loss of key sports rights in the region also set the stage for
significant churn on the Hotstar front.

Losses in the direct-to-consumer unit were cut in half compared
to the same period last year. DTC operations delivered a $512
million loss, compared to $1 billion in the same frame in 2022.
Operating income for Disney�s linear networks sank 23% to $1.9
billion on revenue of $6.7 billion, down 6%. Revenue for
Disney�s Parks, Experiences and Products arm was up 13% to $8.3
billion and operating income gained 11% to $2.4 billion.

Disney notched a gain of 800,000 subscribers in other parts of
the world. In the U.S. and Canada, Disney+ lost 300,000
subscribers while the streaming-only side of Hulu gained about
that same number.

�Our results this quarter are reflective of what we�ve
accomplished through the unprecedented
transformation we�re undertaking at Disney to restructure the
company, improve efficiencies, and restore creativity to the
center of our business,� said Disney CEO Bob Iger. �In the eight
months since my return, these important changes are creating a
more cost-effective, coordinated, and streamlined approach to
our operations that has put us on track to exceed our initial
goal of $5.5 billion in savings as well as improved our direct-
to-consumer operating income by roughly $1 billion in just three
quarters. While there is still more to do, I�m incredibly
confident in Disney�s long-term trajectory because of the work
we�ve done, the team we now have in place, and because of
Disney�s core foundation of creative excellence and popular
brands and franchises.�

On a conference call with Wall Street analysts, Iger made it
clear that Disney is refocused on �rationalizing the volume of
content that we make, what we spend and what markets we invest
in.� Planning for the streaming future nonetheless means finding
�economics designed to deliver significant and sustained
profitability,� he said.

The labor conflict that has Hollywood in a state of paralysis
has delivered a short-term boost for Disney�s larger cost-
cutting goals. Kevin Lansberry, Disney�s newly appointed chief
financial officer, told analysts that content spending for the
company�s fiscal 2023 (which ends in September) will come in at
$27 billion, or about $3 billion less than forecast in part
because of the WGA and SAG-AFTRA strikes.

https://variety.com/2023/biz/news/disney-hotstar-loss-earnings-
1235692323/

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