Disney is planning to freeze hiring and cut some jobs as it strives to move the Disney+ streaming service to profitability against a backdrop of economic uncertainty, according to a memo seen by Reuters.
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Walt Disney Co. said Wednesday it is raising prices for streaming subscribers in the U.S. who want to watch Disney+ without ads, as more viewers switch to what CEO Bob Chapek described as the “best value in streaming.”
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Overall, Disney nabbed $21.8 billion in revenue in the quarter, up 34% from the year-ago period. As for profits, the company reported $1.1 billion in the first quarter, up more than 100% from last year.
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Disney+, which carried the company through the pandemic as parks remained closed and operated at limited capacities, grew to 116 million subscribers in the most recent quarter, exceeding the 112 million subscribers Wall Street analysts expected. Another boost for Disney: Theme parks reopening.
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As the coronavirus situation improves in countries like the United States, which trends from the past 14 months will have staying power, and which will be resigned to the pandemic past? Airbnb, DoorDash and Disney, which reported results after US markets closed on Thursday, provide some idea.
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Streaming has carried Disney through the pandemic with Disney+ growing to more than 100 million subscribers. Yet the biggest star in Disney’s media universe shined a little less bright on Thursday. Just like rival Netflix.
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Ever since “Star Wars” premiered in 1977, kids and adults alike wanted to get their hands on a lightsaber. The “elegant weapon for a more civilized age” is one of the most famous props in movie history and pop culture — and now Disney has apparently created a “real” one. Weve got the video.
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The Disney Store, once a mall mainstay, is drastically reducing the number of locations it has in the United States and Canada.
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Epic Games, the video game developer behind “Fortnite,” said it would offer players who make real-money purchases in the game and are new subscribers to Disney+ up to two months free of the streaming service.
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