Disney's latest quarterly report didn't feature the cavalcade of news that its February edition did, but it brought the company closer to accomplishing a key strategic goal.
The company is closing in on achieving profitability in its overall streaming business by the end of fiscal 2024. That was what it promised Wall Street analysts it would do when its streaming adventure was beginning back in 2019. In its fiscal second quarter ended March 30, the entertainment streaming operation (consisting of Disney+ and Hulu) finished in the black a bit ahead of schedule, while ESPN+ reported a loss of $18 million. Total revenue and earnings per share both topped analysts' forecasts, as did the sequential increase of 6.3 million Disney+ core subscribers.
CEO Bob Iger said the financials proved that the turnaround plan the company initiated last year is working. Iger is just a few weeks removed from his triumph over activist investor Nelson Peltz in a proxy battle. On a conference call with analysts, the top exec weighed in on a range of topics, announcing that ESPN programming, including a "modest amount" of live games, would be added to Disney+ by the end of the year. He also said the company is setting new limits on the number of Marvel projects, part of an effort to boost the quality level across the film and TV slate.>>>AM Shift
Related:
Iger On Reducing Marvel Output, Balancing Sequels And Original Films
ESPN Programming Coming To Disney+ By Year-End In "First Step" Toward Flagship Sports Streaming Launch |
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'Super' Profitable - Not only is The Super Mario Bros Movie the highest-grossing Illumination film of all time with $1.36 billion at the global box office, it’s also the most profitable at $559M, also making it the most profitable film of 2023. >>>Year's Top 10 Bare Knuckle 'Roadhouse' Brawl - The copyright battle over Road House and this year’s remake starring Jake Gyllenhaal has turned into a bare knuckle legal brawl. Amazon Studios, MGM Studios and United Artists maintain that R. Lance Hill, who penned the original 1986 script under the moniker David Lee Henry, and his attorney Marc Toberoff’s “claims are barred because Plaintiff’s copyright registration to the 1986 Screenplay was secured through fraudulent statements to the Copyright Office concerning Plaintiff’s purported authorship and ownership and, therefore, is invalid.” >>>"Cannot Rewrite History "
Presidential Seal Of Approval - Netflix and Barack and Michelle Obama's Higher Ground prevailed in a mid-six-figure spec deal for Dyersville, a fact-based Chicago-set crime thriller. Will Hettinger wrote the script, and Grant Singer is near a deal to direct, so this is all moving on a fast track.
>>>Hot Spec
Ready For The 2026 Guild Negotiations? - SAG-AFTRA is already looking ahead to its next contract with the AMPTP in 2026. Over the weekend, SAG-AFTRA’s EVP, Linda Powell, LA VP Jodi Long, who is also LA Local President and SAG-AFTRA VP, Actors/Performers Shari Belafonte were in Denver at SeriesFest to discuss the contract and what’s next for the guild. >>>" The Next Fight " Serial Killer Series Locked Up - In a competitive situation, Universal Television has acquired the rights to Jana Monroe’s memoir Hearts of Darkness: Serial Killers, The Behavioral Science Unit, And My Life As a Woman In The FBI to develop into a series. >>>Inspiration For Clarice Starling
In Brief - Elizabeth Olsen signs with CAA... Story Kitchen & DreamWorks Animation form strategic partnership... Samy Burch signs with WME... Los Angeles Latino International Film Festival sets lineup |
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The multi-camera comedy about an American businessman who falls in love with a Nigerian nurse wrapped May 6 in much the same way it kicked off in 2019 — with lots of charm and affection served up by its affable stars Billy Gardell and Folake Olowofoyeku.
Here, co-creator/EP/co-star Gina Yashere and EP Matt Ross talk about what went into crafting their sentimental Bob ❤️ Abishola finale, the show’s legacy and whether they regret using a heart emoji in the title. >>>Read The Interview |
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Michelle Yeoh (Everything Everywhere All at Once) has found her next major starring vehicle in Blade Runner 2099, Prime Video‘s limited series following up the 2017 movie sequel Blade Runner 2049.
Joining Netflix's Wednesday, whose second season has started production in Ireland, are new series regulars Billie Piper (Scoop), previously revealed Steve Buscemi as well as Evie Templeton (Return to Silent Hill), Owen Painter (Tiny Beautiful Things) and Noah Taylor (Law & Order: Organized Crime).
Exclusive
Nicolas Cage, FKA twigs, Noah Jupe and Souheila Yacoub are set to star in Egyptian-American director Lotfy Nathan’s The Carpenter’s Son exploring the rarely told story of the childhood of Jesus with a horror take.
Exclusive
Faye Dunaway, Harvey Keitel and Andrew McCarthy have signed on to star in Fate, a suspenseful, supernatural romance that will launch international sales via Highland Film Group at Cannes.
Samuel L. Jackson and Henry Golding are set to lead thriller Head Games, to be directed by Anthony Mandler (Monster).
In Brief - Rafe Spall, Greg Kinnear & more join Apple series Firebug... Peyton Jackson & Estella Kahiha join Woman In The Yard |
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More News 🍁 The Writers Guild of Canada and the Canadian Media Producers Association have reached an agreement in principle on terms for a new three-year independent production agreement. Details of the pact will emerge over coming hours and days. It covers terms, conditions and rates for writers, story editors and story consultants.
🏬 Ahead of its first-ever presentation during the main upfronts week in New York, Amazon Ads is rolling out three new streaming video ad formats. The interactive units are designed to harness the potency of Amazon's e-commerce capabilities and bring them to advertisers and viewers on Prime Video and the tech giant's other outlets.
👏 Celebrating Participant: Regina King, George Clooney, Ava DuVernay, Daniel Dae Kim, Martin Sheen, Alfonso Cuaron, Matt Damon, Diego Luna and more have joined up with the National Domestic Workers Alliance to express “gratitude and pride” in the work put out by the Jeff Skoll-created shingle over the last two decades. 🚦 The Neighborhood universe is expanding with a second series, Crutch. Paramount+ has picked up the half-hour, multi-camera comedy headlined by Tracy Morgan. |
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Obituaries
🕯️ Jeannie Epper, a stunt double for Lynda Carter in the 1970s Wonder Woman TV series who also performed stunts in such movies as The Fast and the Furious: Tokyo Drift and Kill Bill: Vol. 2, died Sunday at her Simi Valley, California home. She was 83. 🕯️ Media & Hollywood Deaths Gallery |
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On the Radar
Wed - Fox Corp., AMC Entertainment, TKO Group earnings; Palm Royale S1 finale
Thu - WBD earnings
Fri - AMC Networks earnings
Sat - Maya Rudolph hosts 'SNL'
Mon - Upfronts begin in New York |
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Caped Crusader - Colman Domingo revealed his Met Gala look was a tribute to the late Chadwick Boseman and André Leon Talley, both of whom were Met Gala standouts in part due to their flair for capes. |
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