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Disney Removing Some Streaming Content; Reducing Future Content

During an earnings call, Disney confirmed that it will be removing some current streaming content and is reducing its future content.

There had been rumblings that the company would begin removing streaming content (much like Warner Bros. Discovery did when David Zaslav & his team took over the multimedia company). And over the past few months, The Walt Disney Company CEO Bob Iger and others discussed revisiting both how much the company is spending on content and how content is scheduled. Well, all three of those issues were addressed by Iger & his team during a Disney earnings call earlier today. First up, it was confirmed that some content will be removed from streaming services, eyeing a content impairment charge of $1.5 billion to $1.8 billion as it does. "We are in the process of reviewing the content on our DTC services to align with the strategic changes in our approach to content curation," explained CFO Christine McCarthy on the company's post-earnings call. "As a result, we will be removing certain content from our streaming platforms and currently expect to take an impairment charge of approximately $1.5 to $1.8 billion. The charge, which will not be recorded in our segment results, will primarily be recognized in the third quarter as we complete our review and remove the content."

Of course, the obvious question? What content? While no additional information on that subject was provided, based on that "third quarter" comment from McCarthy, it would seem that this would be a process that would happen over several months. What that would mean for the content is anyone's guess. Some content that was removed by Warner Bros. Discovery has found new homes on FAST channels, other streamers, graphic novels (in the case of Final Space), and more. As for the amount of content moving forward, McCarthy noted that "going forward, we intend to produce lower volumes of content in alignment with this strategic shift." It remains to be seen if this will end up impacting some of the bigger-name projects that are in the early stages of pre-production, and then there's the WGA/AMPTP writers' strike as the wildcard that could mix up things in any number of ways.

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