Disney’s Fiscal 2023 Results: Content Spending Eases, Streaming Proceeds Eclipse Affiliate Revenue As ESPN Penetration Falls To 71M Households
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deadline.comDisney crossed a key threshold in fiscal 2023, taking in more revenue from streaming than from linear TV. The media giant is continuing to trim spending on film and TV content, including sports, with total spending declining to $27.2 billion from $29.9 billion in fiscal 2022.
That tally encompasses original titles for the film studio, streaming platforms and TV networks along with sports rights license fees.
Efforts to rein in those costs have been accompanied by broader cuts of staff and other expenses aimed at achieving $7.5 billion in cost savings.
CEO Bob Iger said earlier this month the company is eyeing total film and TV content spending of about $25 billion in the current fiscal year.
Read more on deadline.com
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