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Post by BWV Dreamin on Jun 3, 2023 4:50:03 GMT -5
www.wdwinfo.com/news-stories/disney-to-incur-1-5-billion-impairment-charge-for-removal-of-disney-plus-content/Disney to Incur $1.5 Billion Impairment Charge for Removal of Disney Plus Content Last month, Disney removed dozens of movies and shows from Disney+ and Hulu. According to an SEC filing Friday afternoon, The Walt Disney Company will incur a $1.5 billion impairment charge in its fiscal Q3 “financial statements to adjust the carrying value of these content assets to fair value.” Disney said they continue to review content on its streaming platforms and “anticipates additional produced content will be removed from its direct-to-consumer and other platforms, largely during the remainder of its third fiscal quarter.” The company estimates additional impairment charges of around $400 million. During last month’s earnings call, Disney CFO Christine McCarthy stated that “the company expected to take a write-down in the June quarter of $1.5 billion-$1.8 billion from removing content from its streaming platforms. ” Writing down the value of the content assets makes it so Disney is able to remove those assets from its balance sheet hence reducing its tax bill.
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Post by donalddork on Jun 3, 2023 10:11:41 GMT -5
I figure it's content that no one watches and doesn't have any IP value that can be sold to a 3rd party; in other words, they were forced to put a realistic dollar value on their content ("mark to market") and this content has little to no value, so they are forced to write it down. Just my guess.
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Post by BWV Dreamin on Jun 3, 2023 15:21:42 GMT -5
Well let’s hope so. The current content is leaving much to be desired. I cant even imagine what they removed.
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Post by capeokw56 on Jun 3, 2023 15:59:17 GMT -5
Well let’s hope so. The current content is leaving much to be desired. I cant even imagine what they removed. I agree, I've been wondering what I'm paying $10.99 (I think) a month for. I'm in the throes of cutting down my $296 a month cable/internet bill too. Just bought a Roku for each of our tvs and going to the cable office next week to lower our bill. Sorry, didn't mean to thread drift.  |
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Post by FessParker1 on Jun 3, 2023 18:03:31 GMT -5
Well let’s hope so. The current content is leaving much to be desired. I cant even imagine what they removed. I agree, I've been wondering what I'm paying $10.99 (I think) a month for. I'm in the throes of cutting down my $296 a month cable/internet bill too. Just bought a Roku for each of our tvs and going to the cable office next week to lower our bill. Sorry, didn't mean to thread drift. I thought that when this Disney+ thing started they said you would have all their content forever. Anyone recall? Now for the thread drift. I cut ours down to internet only. I got an antenna that worked ok for local channels but being in the center of the 3 TV markets was eh sometimes. My sister has a great signal at her house so I bought an airtv box and connected it to her antenna. I get to watch all the channels she pulls in at my house through the Internet for free. |
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Post by BWV Dreamin on Jun 3, 2023 19:32:50 GMT -5
Well let’s hope so. The current content is leaving much to be desired. I cant even imagine what they removed. I agree, I've been wondering what I'm paying $10.99 (I think) a month for. I'm in the throes of cutting down my $296 a month cable/internet bill too. Just bought a Roku for each of our tvs and going to the cable office next week to lower our bill. Sorry, didn't mean to thread drift. I have both Roku and Fire TV. Pay $65/month for the middle to upper tier performance internet service (Xfinity). Then just watch local news from our local news app ( Fox 43 News for central PA). There is so much good free content. I like Tubi, Roku Channel, Plex in addition to my paid services of Hulu (2.99/month, Prime Video, Netflix, Disney+ ( at this point mainly for the grandkids). Once you cut the cord you will never go back. |
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Post by BWV Dreamin on Jun 3, 2023 19:36:53 GMT -5
I agree, I've been wondering what I'm paying $10.99 (I think) a month for. I'm in the throes of cutting down my $296 a month cable/internet bill too. Just bought a Roku for each of our tvs and going to the cable office next week to lower our bill. Sorry, didn't mean to thread drift. I thought that when this Disney+ thing started they said you would have all their content forever. Anyone recall? Now for the thread drift. I cut ours down to internet only. I got an antenna that worked ok for local channels but being in the center of the 3 TV markets was eh sometimes. My sister has a great signal at her house so I bought an airtv box and connected it to her antenna. I get to watch all the channels she pulls in at my house through the Internet for free. Yes all Disney content for free, whenever you wanted to watch it!!!! So much for that broken promise  |
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