Disney Takes $1.5 Billion Writedown on Programs It’s Removing From Streaming 

The Disney+ logo on a smartphone arranged in New York, U.S., on Wednesday, Nov. 18, 2020. Though the entertainment titan is still reeling from the pandemic, the growth of Disney+ has softened the blow. Photographer: Gabby Jones/Bloomberg , Bloomberg

Rob Golum, Bloomberg News

Jun 2, 2023

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(Bloomberg) -- Walt Disney Co. will record a $1.5 billion expense related to programming it’s removing from the Disney+ streaming platform.

The expense is part of a previously announced plan to write down some programming, the company said in a filing Friday, and will be recorded in the current fiscal third quarter.

In May, Disney said it was weighing a write off of up to $1.8 billion to reflect the diminished value of movies and TV shows that were coming off the Disney+ service. In the filing Friday, Disney said it anticipates another $400 million impairment charge related to film and TV content.

Read More: Disney to Pull Shows Including ‘Big Shot’ From Streaming Service

 

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