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Disney CEO Bob Iger said that as the traditional pay-TV universe continues to shrink, the company is cutting its investment in programming for linear entertainment TV networks while amortizing overall content spending across streaming platforms.
The strategy is “to reduce pretty dramatically our investment in content specifically aimed at those traditional networks,” Iger said Wednesday at MoffettNathanson’s 2024 Media, Internet and Communications Conference in New York. The conclusion Iger reached after reviewing Disney’s TV business when he returned as CEO in the fall of 2022 was that “it’s not a growth business, but it could become an important component to our ability to basically engage with the consumer.”
As I said in other threads that this will be coming soon, other studios/broadcasters are doing the same, Paramount has drastically cut back on their cable channels, AMC Networks cut their production budget 20%, Warner cut a lot also, they announced months ago they will no longer be producing any new content for TBS and TNT, along with cutting back on HBO content.
This is the first step, cutting more each of the next two years, then the plan will be to put on content on the Cable/Broadcast Networks that were first shown on the streaming services.
The strategy is “to reduce pretty dramatically our investment in content specifically aimed at those traditional networks,” Iger said Wednesday at MoffettNathanson’s 2024 Media, Internet and Communications Conference in New York. The conclusion Iger reached after reviewing Disney’s TV business when he returned as CEO in the fall of 2022 was that “it’s not a growth business, but it could become an important component to our ability to basically engage with the consumer.”
As I said in other threads that this will be coming soon, other studios/broadcasters are doing the same, Paramount has drastically cut back on their cable channels, AMC Networks cut their production budget 20%, Warner cut a lot also, they announced months ago they will no longer be producing any new content for TBS and TNT, along with cutting back on HBO content.
This is the first step, cutting more each of the next two years, then the plan will be to put on content on the Cable/Broadcast Networks that were first shown on the streaming services.
Disney Is ‘Pretty Dramatically’ Reducing Spending on Traditional TV Content, CEO Iger Says
Disney CEO Bob Iger said that as traditional pay TV continues to shrink, the company is cutting its investment in content for linear TV networks.
variety.com