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D-Day for Disney – will subscribers surge?

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Disney+ Day is finally here, marking two years since the birth of the streaming platform. After reporting slow streaming growth, will this be Disney’s happily ever after?

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Disneyland is renowned as the happiest place on earth, but maybe not on wall street.

Disney has reported slow streaming growth in its fiscal fourth-quarter earnings on Wednesday after-the-bell.

It’s probably its laggiest in terms of subscriber growth since Disney Plus launched back in 2019.

The company did reach a total of one hundred and 18 million subscribers, which is in line with its estimates.

CEO Bob Chapek said the segment’s growth had “hit some headwinds” and that Disney expected to add “low single-digit millions” of subs into the fourth quarter.

Now, this really isn’t much of a surprise, back in September, Disney warned of a slowdown in growth due to COVID-19 

Is Disney still on track to meet subscriber targets?

Well, Disney certainly thinks so.

During the company’s earnings call, Chapek said the company’s goal of reaching 230 million to 260 million Disney+ subscribers by 2024 is still firm.

“We remain focused on managing our DTC business for the long term, not quarter to quarter,” Chapek said. International expansion and new content are the primary drivers for the company to reach that target, Chapek told CNBC.

Is Disney+ Day D-Day?

Disney plus day falls on November 12th, AKA the birthday of the streaming service.

There is exclusive new trailers, announcements, and discounts, with special appearances from stars and creators too.

Most importantly – a prime opportunity to boost subs.

The company said Quarter 4 will be the first time in Disney plus history that it will release original content throughout the quarter from Disney, Marvel, Star Wars, Pixar, and even Nat Geo.

Unlike Netflix’s Tudum and Warner Bros’ DC Fandome events, Disney Plus Day won’t be available to watch on YouTube or Twitch.

Instead, Disney Plus subscribers will see a live presentation exclusively on Disney Plus, which will reveal more concerning any first look trailers and clips, star appearances and extra content.

Disney+ Day will market some impressive deals for a limited time, with the aim to boost subs.

From now until November 14, Disney is offering a one-month subscription for just $1.99.

Given that it usually costs $7.99 per month, it’s an incredible saving for people who have been thinking of signing up to the service, but unsure if they wanted to add another streaming subscription to the mix.

The company is hoping for promising results come the next earning call.

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Streaming service shift and the award season snubs

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Netflix Introduces Changes to Subscription Model, Academy Award Nominations Spark Cinematic Buzz, and the Doomsday Clock Continues its Ominous Ticking.

Netflix is set to discontinue its ad-free Basic subscription in select countries, commencing with Canada and the UK in Q2 2024.

This strategic shift introduces a significant price increase for the baseline entry, signalling potential adjustments to Netflix’s global pricing structure.

Simultaneously, the 96th edition of the Academy Award nominations has stirred cinematic debates, with the prevailing question being whether the upcoming season will be dominated by “Barbie” or “Oppenheimer.” These contrasting narratives set the stage for a fierce competition, highlighting the diverse and compelling offerings in this year’s film industry.

Beyond the realm of entertainment, the Doomsday Clock, a symbolic representation of the likelihood of a human-made global catastrophe, continues its ominous countdown.

Maintained since 1947 by the Bulletin of the Atomic Scientists, the clock serves as a metaphor for threats arising from unchecked scientific and technological advances. As global tensions, environmental challenges, and technological risks persist, the ticking of the Doomsday Clock serves as a poignant reminder of the urgent need to address multifaceted threats to humanity.

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Adidas faces potential $320M Yeezy shoe write-off post-Kanye split

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Adidas is contemplating a significant financial blow as it considers writing off $320 million worth of Yeezy shoes following its separation from music and fashion icon Kanye West.

The sportswear giant’s decision to sever ties with West’s Yeezy brand has left a mountain of unsold merchandise, threatening to dent the company’s balance sheet.

The partnership between Adidas and Kanye West, which began in 2013, had been immensely successful, with Yeezy shoes becoming a highly sought-after fashion statement.

However, recent controversies and disagreements between West and Adidas prompted the sportswear company to distance itself from the celebrity designer.

The massive inventory of Yeezy shoes now presents a dilemma for Adidas, as it grapples with finding a solution to deal with the surplus stock. A $320 million write-off could significantly impact the company’s financial performance in the short term.

Adidas is currently exploring various options, including discounting, donating, or repurposing the unsold inventory to mitigate the financial hit.

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Warner Bros discovery warns of Hollywood’s ‘real risk’ post-strikes’

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Warner Bros Discovery, has issued a stark warning regarding the ‘real risk’ that Hollywood faces in the aftermath of the recent strikes that have taken a considerable toll on the industry’s financial health.

The strikes, which disrupted film and television production for several weeks, resulted in substantial financial losses for studios, production companies, and countless industry professionals.

Warner Bros Discovery emphasised the necessity for a resilient and adaptable approach to navigate the ongoing challenges and uncertainties facing the film and television sector.

The conglomerate stressed the importance of implementing measures to mitigate such risks in the future, which include fostering better labour relations and contingency planning to safeguard against potential disruptions.

The message underlined the need for the industry to adapt to the evolving landscape of content creation and distribution, particularly in the digital era.

This warning from Warner Bros Discovery highlights the need for the entertainment industry to recognise the ever-changing dynamics and economic challenges, and the importance of preparedness to maintain its prominent position in the global market.

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