Disney delivered the financial report for the last three months of last year with several highlights. In the first place, the loss of users of its streaming platform and the announcement of layoffs to save costs.
The company ensures that Disney+ it lost a total of 2.4 million subscribers in the last quarter of 2022, something that hadn’t happened since the app launched in November 2019.
This represented 1% of the total users of the platform, which went from 164.2 million subscribers to 161.8 million. One of the reasons for this decrease would be the price increase, which occurred just in that period of time, going from 8 dollars to 11 each month.
The company reported that it will lay off 7,000 employees.
layoffs at disney
Another important point is the departure of employees, which will be presented throughout The Walt Disney Company. In total there will be 7,000 workers who will leave, which represents 3% of the company’s current workforce.
What the company is looking for is to save up to 5,500 million dollars, of which 3,000 million would be from the content area, except sports, and the rest of sectors such as Marketing, labor, technology, among others.
A decision that adds to the one that many other companies have taken in recent months, as happened with Amazon, Meta, Microsoft, Google, Twitter and else.
Although according to Deadlineanother important part of this decision is given by the return of Bob iger as CEO in November of last year. The manager plans a corporate restructuring by modifying the structure of certain areas that were implemented with the previous administration and would even seek to completely get rid of Disney Media and Entertainment Distribution (DMED).
Despite this scenario, the financial results show positive numbers in revenue growth, since there was an 8% increase compared to the same period in 2021.
The company reported that it will lay off 7,000 employees.
Total, Disney reported revenue of $23.5 billion, as well as adjusted earnings per share of $0.99.
These good numbers are largely given to the theme parks. In this area, the company had revenues of 8,376 million dollars during the last three months of last year, 21% more than the same period in 2021, when various restrictions were still in place in certain countries due to the pandemic.
Disney confirmed new movies
In the midst of all these announcements, there was also room for new content. Between them, a fifth of toy storya third installment of Frozen and a sequel to zootopia.
“Soon we will have more to share about these productions, but this is a great example of how we are leaning on our unrivaled brands and franchises,” he said. Bob Igercurrent CEO of the company.
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Although very little is known so far about these future films, some specialists suggest that in the case of the franchise of toy story, his story would continue after the previous installment to complete the closure of the story of Woody and Buzz Lightyear.
On the other hand, it has been suggested that Frozen 3 would have the return of Kristen Bell and Idina Menzel. While Zootopia already had a TV series last year, and it seems that after its success, the franchise will continue to grow in cinema.
