Disney has eliminated a small business unit focused on exploring the metaverse, part of its initial efforts to reduce its workforce by about 7,000 employees. About 50 workers were part of the group dedicated to “next-generation storytelling and consumer experiences.” The elimination of the unit, first reported by The Wall Street Journal, was confirmed to
Bob Chapek
Death, taxes, and films that bomb at the box office. Such is life in Hollywood, and at the end of the day, the estimated $147M loss which is expected for Disney Animation’s Strange World isn’t spilt milk to cry over for the entertainment conglomerate. The bombing of the Thanksgiving family title, with a $28M global
Disney stock faded more than 1% on the second day of Bob Iger’s return engagement as CEO, reflecting investors’ divergent outlooks on the media giant’s prospects Shares in the Dow component finished at $96.21, down 1.4% on more than twice the normal trading volume. The downbeat session made Disney one of the few laggards in
Advance ticket sales through Sunday for Black Panther: Wakanda Forever stand at $45M, about 20% behind Doctor Strange in the Multiverse of Madness at the same point of time and 40% ahead of Thor: Love & Thunder. Doctor Strange 2 before its domestic opening of $187.4M had $85M in advance sales, while Thor: Love &
In 2004, Disney’s cable networks executive Anne Sweeney was named co-chair, Disney Media Networks, and president, Disney/ABC Television Group. The promotion, announced by then-Disney CEO Bob Iger, to whom Sweeney reported, set off a decade-long reign of Sweeney as one of the most powerful women in entertainment, with a vast TV portfolio encompassing a broadcast
It’s been a rough first two years for Bob Chapek in Disney’s top job. First came the pandemic, which started days into Chapek’s tenure as CEO, bringing the entertainment industry to a halt. With moviegoing hampered by Covid even after theaters reopened, Disney started releasing movies on streaming, which led to Chapek’s second big challenge: