The Walt Disney Company is exploring selling some films and TV shows to rival media outlets so they can earn more money from their giant content library, Bloomberg reports.
Disney+ subscriber rates continue to exceed expectations but the company still reported a $1.5 billion loss for online video last year while stock plummeted. The board then fired CEO Bob Chapek and re-hired CEO Bob Iger, but stock is still relatively low. Disney will report their financial results for the most recent quarter on February 8, 2023.
Iger has already begun to restructure The Walt Disney Company, and is planning to give distribution decisions back to the creators of movies and TV.
Disney has kept most of their content close to the chest on Disney+ and Hulu, though some Disney movies remain on other platforms due to previous contracts. But phasing out licensing deals with Netflix, Amazon, and other services, as well as all essentially replacing home video sales with streaming, meant a loss for Disney.
Disney executives are reportedly shopping some titles to third parties now but there are no further details.
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