Costs broke the back of Hollywood giant Disney!

According to the film reporter of Fars News Agency, quoted by The Hollywood ReporterDisney is cutting $1.5 billion in costs after dropping Disney+ and Hulu shows. The entertainment giant stopped its more than 30 internet shows on 26.

Disney is set to cut $1.5 billion in the third fiscal quarter after cutting more than 30 shows from Disney Plus and Hulu last month in an effort to cut costs.

On May 26, Disney pulled shows like The World According to Jeff Goldblum, Y: The Last Man, The Mighty Ducks, Turner & Hooch, Willow, Maggie, Dollface and 2022 Cheaper By the Dozen from its streaming service.

Disney expects to take more than $1.8 billion in program cuts as a result of the content cuts, Disney CFO Christian McCarthy said during the company’s earnings call in May.

He said Friday that Disney is continuing its review and expects to remove additional produced content from streaming services during the third quarter. The cuts are expected to return another $400 million in costs to Disney.

Disney Virtual World’s losses have narrowed in recent months, as the company posted a $659 million loss in its fiscal second quarter, down from a $1.1 billion loss reported in the previous quarter.

However, Disney’s financial vice president says that adding 100 million to the current quarter’s losses is not far from expected.

It should be noted that according to the above, one can clearly see the effects of the nationwide strikes of American writers on the most important Hollywood companies, as long as dozens of programs, films and television projects have been closed due to these strikes, which have reached the White House and Congress. .

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