Post by jdv on Nov 12, 2021 16:05:25 GMT -5
"The Disney+ streaming service is in trouble just two years after its high-profile launch, as subscriptions have fallen short of expectations.
Disney announced this week that it has reached 118.1 million global Disney+ subscribers, disappointing Wall Street analysts, who had reportedly expected around 126 million. Disney shares plunged as much as 8 percent on Thursday following the announcement but have since recovered some of their losses."
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Now obviously 118 million paying subs is nothing to sneeze at, but Disney's over-head is massive. They produce more movies + shows than any other company on earth.
And with yet another Marvel implosion at the box office in the form of THE ETERNALS, the Mouse can hardly count on those billion dollar paydays AVENGERS movies brought in.
In a related story, Disney owned ESPN is cancelling an entire networks, ESPN Classics. ESPN has been bleeding money for years now as sports fans who - get this - just want to watch sports without politics have simply stopped watching the former king of sports.
Disney also shutting down the Hotstar Network, which apparently featured Asian and Bollywood flicks.
