Back to Blog
The take the hider6/12/2023 ![]() “Disney+ has exceeded our wildest expectations with 86.8 million subscribers as of December 2,” he said. It also takes issues with statements from Chapek in December 2020 that touted gains. The suit says the plan was a “motivating factor” behind the reorganization, which was announced a month before The Mysterious Benedict Society went into production. “By doing so, a significant portion of the marketing and production costs of the shows were shifted away from Disney+ and on to the legacy platform,” reads the complaint. This includes an allegedly fraudulent plan to debut certain shows that were supposed to be Disney+ originals, including The Mysterious Benedict Society and Doogie Kameāloha, M.D., on its TV networks, like the Disney channel. Investors say that the reorganization represented a “dramatic departure from Disney’s historical reporting structure and was hugely controversial within the Company because it took power away from creative content-focused executives and centralized it in a new reporting group” led by Chapek lieutenant Kareem Daniel, who alongside his mentor, “exerted near complete control over the company’s strategic decisions around content,” according to the complaint.įrom December 2020 to November 2022, Chapek and Daniel repeatedly misled investors about the success of Disney+ by concealing the true costs of the platform and the difficulty of maintaining robust subscriber growth in addition to claiming that it was on track to achieve profitability with 230 to 260 million paid global subscribers by the end of 2024, the suit claims. Under the new reorg, distribution and commercialization activities were centralized into the Disney Media and Entertainment Distribution (DMED) arm, which essentially became responsible for the monetization of all content globally. Against this backdrop, Chapek decided to “go all in” on the platform, announcing a major reorganization of the company’s media and entertainment operations. While most of the company’s businesses suffered as its theme parks, resorts and cruise lines were shuttered and movie theaters were forced to close, subscriptions to Disney+ rapidly took off. ![]() The suit details Disney’s pivot to prioritizing streaming amid the pandemic. 'Elemental' Review: Pixar's Timely High-Concept Bonanza Underwhelms ![]()
0 Comments
Read More
Leave a Reply. |