Extended info: At market close 11 May 2023, Disney’s stock price was $92.31/share, down 8.7% for the day, 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
Source: variety.com
Publication: 11th of May 2023
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