When Disney+ launched in November 2019, they offered a discount on a 2-year subscription. The average monthly cost, with the discount, was $3.92 a month. That discount ended in December 2022. Disney then raised their prices and subscribers canceled. To lose $1.1B when a two year promotion ends is one thing. To lose $800M in a regular quarter is another.
Disney's losses would be deeper except they bolstered their bottom line with the layoff of off 7,000 workers to save more than $5B.
Look at their stock price today. It closed at $85.56 which was down $3.06 from Friday’s close. Two years ago it was a $180.00 stock. Its 52-week low is 84.07 and I suspect it will drop below that soon.
Disney, like Bud-Light, has destroyed it’s brand. It would take a 180 turn in production ideas and marketing to start reversing the destruction. They aren’t going to do that. I suspect the share-holders are not happy. But, as long as the GIBLETS are controlling the show the destruction will continue. Disney long ago abandoned the family values that made them the great company they were but like pigs in a mud-hole they are now wallowing in filth. (At least pigs are useful and provide us bacon).
Hmmm, $5B divided by 7K heads is 714k per head. Yeah, get rid of those overpaid deadbeats.