- Disney+ experienced a loss of 1.3 million subscribers worldwide following a significant 27% increase in the monthly subscription fee.
- Despite heavy investments in streaming services, Disney is facing challenges in achieving profitability.
- The company reported a reduced quarterly loss of $216 million for the last quarter of 2023, showing some improvement.
- Disney commenced another round of layoffs, known as Round 2, with notifications to employees starting on Monday, as reported by the Los Angeles Times.
- By Thursday, Disney aims to complete 4,000 of the planned 7,000 job cuts as part of a strategy to save $5.5 billion.
- The company is restructuring into three divisions: Disney Entertainment (covering streaming and media operations), an ESPN division (including the TV network and ESPN+ streaming service), and a Parks, Experiences, and Products unit.
- These changes represent significant actions taken by Bob Iger since his return as CEO in November and were announced shortly after Disney’s latest quarterly earnings were released.
- The restructuring coincides with Disney’s ongoing proxy battle with Nelson Peltz and Trian Management.
- Sean Bailey, President of Motion Picture Studios at Walt Disney, is departing after 15 years, having transformed Disney’s animation into a highly profitable live-action movie business.
- David Greenbaum of Searchlight is stepping into a new role as president of Disney Live Action and president of 20th Century Studios.
- Walt Disney World’s ticket prices for 2025 are set to increase, with the starting price for a one-day, one-park ticket for guests over age 9 rising to $119, up from the current starting price of $109 at Disney’s Animal Kingdom. This price is comparable to current ticket prices at Universal Orlando Resort.
- Despite these price adjustments, the most expensive one-day, one-park tickets will remain at $189 through at least October 2025, with holiday season prices yet to be announced.
One year ago, I signed legislation ending what an independent audit found to be one of the worst examples of cronyism in modern U.S. history: Reedy Creek, a local government controlled by a single company; Disney. While so many claimed ending the cronyism would be bad for Florida, the result has been transparency and accountability, including a reduction of taxes and local businesses being allowed to compete for projects, saving the district millions of dollars. The federal lawsuit filed by Disney has been dismissed and the new state board continues to initiate positive reforms. – Ron DeSantis
