Disney’s cost-cutting measures are hitting its streaming content hard this week, with Kidscreen confirming that Disney+ and Hulu will remove dozens of series, movies and specials (including many originals) from their lineups on May 26.
Some shows, such as Willow (pictured), were previously announced as cancelled or not moving forward with additional seasons. But their official exit from Disney’s offering this week ostensibly frees them up to be licensed to other platforms.
Kids and family titles leaving Disney+ include feature films Artemis Fowl, Stargirl, Magic Camp and Timmy Failure, along with original series such as Diary of a Future President, The World According to Jeff Goldblum, The Mysterious Benedict Society, Big Shot, Turner & Hooch, The Mighty Ducks: Game Changers and Willow.
CEO Bob Iger and CFO Christine McCarthy said during the company’s Q2 earnings call on May 10 that this move will result in a write-down valued between US$1.5 billion and US$1.8 billion. A major priority for Disney under Iger’s leadership is to improve the bottom line of its streaming business. For Q2, the company reported that DTC revenue was up 12% to US$5.5 billion, compared to the same period in 2022.
The House of Mouse is also cutting 7,000 jobs so it can achieve US$5.5 billion in savings across all of its divisions. Kids and animation executives including longtime Disney vets Khaki Jones, Claire McCabe and Marc Buhaj were among the latest round of layoffs.