It’s time for budget cuts to disney. The entertainment ogre behind disney, Marvel, Star Wars and the fox to announce that it had achieved a turnover of 23.51 billion dollars in the first quarter of its fiscal year, from September 1 to December 31, 2022. A figure up 8% compared to the year previous year, and beyond expectations, thanks to high attendance at the parks: Disney+ however disappointed, losing users for the first time, 2.4 million all the same, which brings the community to all the same 161.8 million customers.
Image from Toy Story 4
Bob Iger, who returned to the presidency of the group a few months after Bob Chapek was ousted by the board of directors, nevertheless foresees a “significant transformation” to keep on rising disney towards the peaks. This will manifest itself in savings of $5.5 billion over the coming year: 50% will be made through marketing, 30% through labor and 20% through technology and the rest of the sectors. And who says cost reduction says reduction in payroll: it is expected that 7,000 of the firm’s approximately 220,000 jobs are cut In the coming months. The story does not yet say if it will be exclusively non-renewal of positions or if layoffs are planned. When everything seems to be going disneythe pundits obviously want to secure their future and their wallets…
“After a strong first quarter, we are embarking on a significant transformation, which will maximize the potential of our world-class creative teams and our unparalleled brands and franchises. We believe that the work we are doing to reshape our business around creativity, while reducing expenses, will lead to sustained growth and profitability for our streaming business, position us better to weather future disruptions and economic challenges. worldwide and will create value for our shareholders. »
Perhaps just to pass the pill and reassure shareholders following the recent commercial “failures” of animated films disney And Pixar, three major film projects were announced at the same time. In addition to Elementary, ELIO, Inside Out 2, Wish and series Disney+sequels to classics are now planned for the cinema: Toy Story 5, Frozen 3 And Zootopia 2. No release date is given for any of these feature films, but disney already has slots lined up for animated films in 2025 and 2026, so they’re likely to be released then.
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