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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.

Bob Iger Michael Nathanson Todd Spangler Canada show reports Digital target Progressive Parke Morningstar

‘Frybread Face and Me,’ Executive Produced by Taika Waititi, Drops First Look Ahead of SXSW Premiere (EXCLUSIVE)

Jazz Tangcay Artisans Editor Native filmmaker Billy Luther heads to SXSW this weekend to premiere his narrative feature debut, “Frybread Face and Me” on March 11. Set in the ‘90s, the coming-of-age story follows Benny (Keir Tallman), a young Native American boy who plays with dolls, sports a Fleetwood Mac t-shirt and watches soap operas. Forced to spend his summer on the reservation with his grandmother, Benny finds himself impressed by his cousin “Frybread” (Charley Hogan) who opens his eyes to life on the rez. Featuring an entirely Native cast and predominantly Native crew, Luther says it was important to cast Navajo kids at the core of his film. He says, “With the help of Midthunder Casting, which also worked on FX ‘Reservation Dogs,’ we were able to find these incredible kids. The amount of Indigenous talent – Martin Sensmeier, MorningStar Angeline, and Jeremiah Bitsui came on. And we also brought on some amazing new faces from Indian country that are making their feature debut.”

Taika Waititi Jazz Tangcay Martin Sensmeier Jeremiah Bitsui USA India Chad film 2020 country opera sports Morningstar

Evan Rachel Wood, Tessa Thompson & Angela Sarafyan Glam Up 'Westworld' Season 4 Premiere in NYC

Evan Rachel Wood, Tessa Thompson and Angela Sarafyan look so glamorous on the red carpet at the premiere of Westworld‘s season four held at Alice Tully Hall, Lincoln Center on Tuesday (June 21) in New York City.

Fred Leighton Aaron Paul Ed Harris Ariana Debose Lincoln Center Luke Hemsworth Jeffrey Wright Tessa Thompson James Marsden Anita Ko Lisa Joy Evan Rachel-Wood Angela Sarafyan Alison Schapker Daniel Wu Aurora Perrineau New York actor Citi Morningstar

Josh Brolin Teases an ‘Extraordinary,’ Twisty Take on the Western at ‘Outer Range’ Premiere

Carson Burton “Outer Range,” the new Josh Brolin-led Western series from Prime Video, aims to twist the well-worn genre at its very roots. To showcase the land of the West in a never-before-seen fashion, the eight-episode series mixes in an element of the supernatural, with mind-bending results.“It took a very simple, straight-forward genre and then it took extraordinary twists, whether it be metaphysical or whatever you want to call it,” Brolin told Variety at the show’s premiere at Hollywood’s Harmony Gold theater on Thursday night.

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