Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Walt Disney could sell more movies and TV series to rivals: Bloomberg

Published 2023-02-03, 03:02 p/m
Updated 2023-02-03, 03:02 p/m
© Reuters.

© Reuters.

Walt Disney Company (NYSE:DIS) is looking at potentially selling more of its films and television series to rival media outlets, according to Bloomberg, citing people familiar with the discussions.

The business is said to be looking into the move in a bid to earn more cash from its content library and curb the losses in its streaming business.

Any such move for the Burbank, California-based company would represent a shift in strategy, with Disney previously keeping much of its original programming only on Disney+ and Hulu.

There is pressure on Disney to improve its financial performance and change its streaming strategy. The stock is down more than 20% in the past 12 months.

In its third quarter, Disney reported a $1.5 billion loss for its online video business and the company's board replaced Chief Executive Officer Bob Chapek with Bob Iger, who previously held the role. Iger has the task of redesigning the company's organizational structure, which includes reversing some decisions made by the former CEO.

According to Bloomberg, the restructuring will result in personnel cuts, although it is not clear how many people will lose their jobs.

The publication adds that Disney management has discussed selling more titles to third parties, although it remains to be seen if they keep them in-house or not.

By Sam Boughedda

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.