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Disney streaming service sees subscribers fall again
Disney on Wednesday reported a loss for the most recent quarter, with the number of subscribers to its streaming service shrinking again, but a pledge to crack down on password sharing sent shares higher in after-market trades. The falling Disney+ subscriber numbers -- for the third consecutive quarter -- came as a crippling writers and actors strike hits the US entertainment industry, threatening the company's ability to produce content key to the streaming service's appeal. "It is my fervent hope that we quickly find solutions to the issues that have kept us apart these past few months," chief executive Bob Iger, whose contract has been extended through 2026, said of negotiations with striking actors and writers. "I am personally committed to working to achieve this result." Hollywood television and movie writers went on their first strike in 15 years in May, only to be joined in mid-July by actors. The last time Hollywood writers laid down their pens and keyboards, in 2007, the strike lasted 100 days and cost Los Angeles's entertainment economy around $2 billion. This time, the two sides are clashing as writers demand higher pay, minimum guarantees of stable employment and a greater share of profits from the boom in streaming, while studios say they must cut costs due to economic pressures. The current double whammy of actors and writers is the first since the 1960s. At issue for both labor groups in the age of streaming is better pay and residuals, and the role of artificial intelligence, which they fear the studios would like to use to replace them. As things stand, neither the unions nor the Alliance of Motion Picture and Television Producers (AMPTP), the body that represents the studios, seems prepared to give ground. Password sharing a 'priority' Disney+ finished the quarter with 146.1 million subscribers, compared with just shy of 158 million in the first three months of this year, the group said. All but a sliver of the loss in Disney+ subscribers took place in India, where the entertainment titan early this year lost rights to stream popular Premier League cricket matches. Rival Netflix recently reported that its subscriptions climbed by nearly six million in the wake of its crackdown on password sharing. Iger told financial analysts that Disney+ password sharing is "significant" and that the company plans to start tackling the situation. "We already have the technical capability to monitor much of this," Iger said. "We're going to get at this issue; we certainly have established this as a real priority." Disney announced it will raise its streaming service subscription price in the United States to $14 monthly starting October 12, an increase of $3. The company also expanded availability of an ad-supported Disney+ tier to Canada and parts of Europe. Third Bridge analyst Jamie Lumley believes Disney+ has "a long road ahead" to becoming profitable. "Our experts expect that 2025 is a more realistic timeline to achieve profitability than next year," Lumley said. "Especially considering factors like the dual strike in Hollywood and relatively weak reception of Disney's content by audiences." Disney shares were up more than 2 percent to $90 in after market trades despite the drop in streaming service subscriber numbers and a posted loss of $460 million in the quarter. The unusual quarterly loss for the company was due to charges related to ending licensing agreements and yanking content from its streaming platforms. Disney reported that its theme parks and cruise business continued to rebound from the pandemic, even while its traditional television offerings face a trend of ad dollars shifting to online viewing alternatives. Iger said in the earnings call that streaming, film studios and theme parks will drive its growth in the coming five years. "On the traditional TV side, losses continue to mount as CEO Bob Iger looks to offload what he now considers non-core assets, including the ABC Network," said Insider Intelligence principal analyst Paul Verna. "These adverse trends are compounded by economic uncertainty, a soft ad market, increased competition in streaming media, labor disputes with screenwriters and actors, and lackluster box office numbers for Disney's films." The post Disney streaming service sees subscribers fall again appeared first on Daily Tribune......»»
Contagious pertussis disease continues spreading in Philippines
MANILA, March 28 (Xinhua) -- The contagious pertussis has continued spreading in the Philippines, where it has caused at least 40 death cases, after a province near the capital region reported an outbreak of the disease. In a social media post on Wednesday night, the Cavite government posted a resolution declaring the province under a state of calamity "due to the outbreak of pertussis" after logging 36 cases an.....»»
Tothapi may bagong single, ka-join na sa Sony Music family
LEVEL up ang breakthrough Bicol-based band na Tothapi! Sila kasi ang pinakabagong pamilya ng Sony Music Entertainment na kinabibilangan ng ilan sa mga biggest OPM acts ng bansa, katulad ng Ben&Ben, SB19, Denise Julia, Clara Benin, Ace Banzuelo, The Itchyworms, Sponge Cola, at marami pang iba. “It has been an amazing ride with Sony Music.....»»
ANZ raises Philippine inflation forecast to 3.8% this year
ANZ Research hiked its inflation forecast for the Philippines to 3.8 percent this year, from 3.5 percent previously, as risks may drive inflation up to above the central bank’s two to four percent target in the coming months......»»
EXPLAINER: Why did the Baltimore bridge collapse and what is the death toll?
(Reuters) -Divers recovered the remains of two of the six missing workers more than a day after a cargo ship smashed into Baltimore’s Francis Scott Key Bridge. The bodies of two men were found in a red pickup truck submerged in the icy waters of the Patapsco River. Rescuers pulled two workers from the water.....»»
Gilas women off to great start in FIBA 3x3 Asia Cup
The Gilas Pilipinas women had a strong start in the 2024 FIBA 3x3 Asia Cup after coming up unscathed in the first day of the competition Wednesday at the Singapore Sports Hub......»»
Spy Wednesday
What significant event took place on the Wednesday of the Holy Week? If Maundy Thursday was all about the Last Supper, the betrayal of Jesus, etc. and Good Friday was all about the kangaroo trial, torture and crucifixion and death of Jesus Christ and Easter Sunday was the glorious resurrection of our Lord, what, I wondered, happened on the Wednesday before......»»
Philippines FDI ‘bound to improve’ in coming years – HSBC
The Philippines would be able to attract more foreign direct investments (FDI) in the coming years amid reforms that improved the country’s business climate, HSBC Global Research said......»»
Father shoots son dead for disrespecting mom in Cebu City
CEBU CITY, Philippines – He was only requested to turn off the lights of his hut, but his disrespectful response to his mother’s order ultimately led to his death. The fatal shooting of a 28-year-old jobless man by his own father in Barangay Lahug, Cebu City on Monday night allegedly stemmed from months of constant.....»»
Probe continues to determine fault in Cotabato van-truck collision
Investigators are still trying to establish who between two drivers was at fault in Monday’s collision of a van and a dump truck that both burst into flames in an accident in Antipas, Cotabato that resulted in the death of 17 individuals......»»
Exo s D.O. returning to Manila for Bloom Asia tour
Doh Kyungsoo or D.O. of the Korean boyband EXO is coming back to Manila as part of his upcoming "Bloom" Asia fan concert tour......»»
Gundam series, Ultraman film coming this year
Streaming platform Netflix had fans excited after teasing what anime content it has in store for 2024, including a new "Mobile Suit Gundam" series and an "Ultraman" movie......»»
Philippines among top e-waste producers in SEA
Electronic waste in the Philippines increased after the country generated 4.7 kilos per capita in 2022 from 3.9 kilos per capita in 2019, according to environmental group BAN Toxics......»»
EDITORIAL — The cost of negligence
As of early evening yesterday, the death toll from a vehicular collision in Cotabato stood at 17, with four others needing hospitalization for injuries and severe burns......»»
'There s today momentum in India which has to be experienced to be believed': Jaishankar in Singapore
Singapore, March 23 (ANI): External Affairs Minister S Jaishankar on Saturday said there's today momentum in India which has to be experienced to be believed and the country is going to be a much bigger economy in the coming years. Jaishankar, who reached Singapore earlier today as part of his three-nation visit, said apart from increase in ease of living and ease of doing business, India is ramping up its infrastructure.....»»
James Jimenez’s presence in Comelec event wakes up ghost of debate fiasco probe
What ever happened to the investigation against him? Why was he in the Comelec's headquarters on Monday? Is this the second coming of James Jimenez?.....»»
At least 7 burn to death, 4 others hurt in Cotabato road mishap
The commuter van burst into flames upon impact.....»»
Angeles toddlers’ death inside car prompts probe into parental accountability
Autopsy results show the two toddlers died of asphyxia by suffocation.....»»
Regine bet na bet gawing National Artist For Music, aprub kayo?
MGA ka-BANDERA, payag ba kayo sa panawagan ng mga fans na gawin nang National Artist for Music ang Asia’s Songbird na si Regine Velasquez? Ito ang isinusulong ngayon ng mga supporters at social media followers ng OPM legend at TV icon matapos niyang tanggapin ang kanyang award sa Billboard Philippines’ Women in Music. Talagang naging.....»»
SB19 s Pablo leads Earth Hour in Manila
SB19 leader Pablo, World Wide Fund for Nature (WWF) Philippine's new Earth Hour Music Ambassador, led the annual switch-off event in Manila City last weekend......»»