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11.05.2023 / 14:07

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Disney Stock Falls on Uncertainty Over Streaming Profitability, Ad Weakness

Todd Spangler NY Digital Editor Shares of Disney slipped as much as 9% in trading Thursday after the media conglomerate reported earnings for the first three months of 2023. Disney’s earnings report showed progress on the cost-cutting front — with streaming losses narrowing for the quarter — but analysts cited a weak advertising outlook and uncertainty over when its streaming business can contribute to the bottom line. As of 11:30 a.m. ET, Disney’s stock price was $92.86/share, down 8.2%, and off its 52-week high of $126.48. Disney+ lost 4 million subscribers for the quarter ended April 1, including a loss of 300,000 in the U.S./Canada. But the company narrowed its streaming losses by $400 million, down 26% year over year, and Disney said it would remove content from Disney+ to cut costs while also expecting to raise prices on the ad-free Disney+ tier. In addition, CEO Bob Iger announced that the company would launch an integrated Disney+/Hulu “one-app experience” in the U.S. by the end of 2023 — indicating Disney’s desire to hold on to Hulu.

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Russo Brothers’ ‘Pizza Film School’ Video Podcast Returns for Season 2 With Guests Including Zack Snyder, Nia DaCosta, Justin Lin, Emerald Fennell

Todd Spangler NY Digital Editor Filmmaker siblings Anthony Russo and Joe Russo are calling their deep-dish interview series, “Pizza Film School,” back into session after a nearly three-year break. In Season 2 of the video podcast, the Russo brothers sit down with fellow directors to talk about their favorite films, discuss the craft of making movies — and chow down on a couple slices of pies from local pizzerias. Guests for the second season include Zack Snyder, Nia DaCosta, Justin Chon, R.J. Cutler, Justin Lin and Emerald Fennell. The series is produced by their production company, AGBO. Season 2 will premiered April 11 with new two-part episodes dropping weekly exclusively on AGBO’s YouTube channel.

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Elon Musk’s Twitter Updates Verified User Descriptions So You Can’t Tell Who Paid for a Blue Check-Mark Anymore

Todd Spangler NY Digital Editor Twitter had said it was going to start removing the blue check-marks of legacy verified users starting April 1, so that only people who paid Elon Musk’s company $8 or $11 per month would have the badge going forward. On Sunday, Twitter did something different: It updated the language in the description of verified users so that now you can’t tell who is paying Musk for the blue check-mark — and who isn’t. The text for both Twitter Blue subscribers and legacy verified accounts now reads, “This account is verified because it’s subscribed to Twitter Blue or is a legacy verified account.” Previously, the verification badge for those who paid for Twitter Blue had a description that said, “This account is verified because it’s subscribed to Twitter Blue.” In addition, accounts verified under Twitter’s previous regime — as being considered notable and authentic — had formerly said, “This is a legacy verified account. It may or may not be notable,” which was wording Musk boasted he’d come up with himself.

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FuboTV Rebrands as Fubo With Assists From Investor Ryan Reynolds, Kevin Garnett and Mark Sanchez

Todd Spangler NY Digital Editor As it tries to reverse a tide of red ink, FuboTV is rebranding its internet pay-TV service Fubo — and the company unveiled a new brand campaign co-produced with Maximum Effort, the advertising and production company headed by Ryan Reynolds, who’s an investor in Fubo. Fubo’s new nationwide ad campaign features NBA champion and Hall of Famer Kevin Garnett (pictured above) and former NFL quarterback Mark Sanchez, with the tagline, “If Sports Fans Built a Streaming Service.” The multiplatform campaign comprises a series of 15- and 30-second TV spots and digital display ads. Maximum Effort, co-founded by Reynolds and George Dewey, owns $10 million worth of shares in Fubo under a multiyear, first-look deal for unscripted content the production company inked with Fubo.

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Disney Names Sonia Coleman New Head of HR, Reporting to CEO Bob Iger

Todd Spangler NY Digital Editor Sonia Coleman, a 15-year Disney veteran, is taking on a new role as head of human resources. The Mouse House named Coleman as senior executive vice president and chief human resources officer of the Walt Disney Co., effective April 8. She most recently has served as SVP of human resources for Disney Entertainment and ESPN. Coleman takes over the the top HR job at Disney from Paul Richardson, who is leaving the company after more than 15 years. As head of HR, Coleman will report directly to Bob Iger, who is serving as interim CEO for a two-year term. Coleman will oversee Disney’s HR strategy, global talent acquisition, leadership development, diversity and inclusion, organizational design and cultural development, employee education and development, compensation and benefits, HR operations and technology, and global security.

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Warner Bros. to Sell ‘Lord of the Rings: The Fellowship of the Ring’ in Limited-Edition NFT Bundles, First for a Major Studio

Todd Spangler NY Digital Editor Fanatical collectors of Peter Jackson’s “The Lord of the Rings: The Fellowship of the Ring” will get the chance to buy limited-edition multimedia nonfungible token (NFT) versions of the fantasy epic. Warner Bros. Home Entertainment is teaming with blockchain company Eluvio to launch “The Lord of the Rings: The Fellowship of the Ring” (Extended Version) Web3 Movie Experience, which will be available in two different editions that drop Friday, Oct. 21 at web3.wb.com. It’s the first time a major studio is releasing a movie as NFTs, which are unique identifiers that verify ownership of digital content. “The Fellowship of the Ring” NFTs are the first ones to be available in the “WB Movieverse,” a new marketplace that will in the future include other titles from the studio. Jessica Schell, GM and EVP, Warner Bros. Home Entertainment, said future releases are yet to be determined. On the platform, fans will be able to buy, sell and trade movie NFTs.

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Alex Cooper’s ‘Call Her Daddy’ Hits No. 1 on Spotify Podcast Charts After Season 2 Premiere With Hailey Bieber

Todd Spangler NY Digital Editor Sex and relationship talk show “Call Her Daddy,” hosted by Alex Cooper, shot to the top of Spotify’s podcast charts following last week’s debut of Season 2. The premiere episode, released as a video podcast, featured an in-depth interview with Hailey Bieber. After the Season 2 premiere of “Call Her Daddy” on Sept. 28, the podcast hit No. 1 on the Spotify charts in English-speaking countries worldwide. As of Tuesday (Oct. 4), it’s the top Spotify podcast in the United States, Canada, U.K., Ireland, Australia, New Zealand, Sweden, Norway and Denmark. In the U.S., Cooper’s show is currently ahead of “The Joe Rogan Experience,” the perennial chart-topper on the streaming service.

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Even With Disney+’s Looming Price Hike, Streamer Is ‘Way Underpriced,’ Says CEO Bob Chapek

Todd Spangler NY Digital Editor Disney+ was first launched three years ago with the “pretty absurd” low price point of $6.99 per month, CEO Bob Chapek admitted. Now the company is gearing up to raise prices again on the flagship streamer — but Disney+ still offers a better price/value equation than competitors, he said. “I think we’re way underpriced relative to the value we provide,” Chapek said, noting that the core Disney+ service without ads will continue to be priced below several competitors. The CEO was speaking Wednesday at Goldman Sachs’ Communacopia + Technology Conference 2022. Amid rising inflation, Disney has announced price increases coming in the fourth quarter of 2022 for Disney+ and Hulu, as well as a December launch for the ad-supported Disney+ tier in the U.S. Disney+ Basic, the name of the plan with ads, will launch Dec. 8 in the U.S. for $7.99/month. That’s the price of the current ad-free version of Disney+, which at that time will bump up to $10.99/month, a 38% increase, and will be known as Disney+ Premium.

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Warner Bros. Discovery Tops 92 Million Streaming Subscribers, Doesn’t Break Out HBO Max Number

Todd Spangler NY Digital EditorWarner Bros. Discovery is not going to say how many HBO and HBO Max customers it has.In the second quarter, the media conglomerate said HBO Max, HBO and Discovery+ subscribers combined were 92.1 million, up about 1.6 million from 90.4 million the prior quarter. That’s up 22% 75.8 million on a pro-forma basis versus a year earlier.However, WBD’s streaming businesses lost subscribers domestically in Q2, dropping 300,000 — falling from 53.3 million in the first quarter to 53.0 million as of June 30.For Q1, AT&T — the prior owner of WarnerMedia and HBO Max — had reported 76.8 million total HBO and HBO Max subscribers worldwide, including 48.6 million domestically.

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