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WIBC 9AM-Noon Podcast

Disney losing money

WIBC 9AM-Noon Podcast

WIBC

News

4.61.2K Ratings

🗓️ 26 June 2023

⏱️ 4 minutes

🧾️ Download transcript

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Transcript

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0:00.0

1149. It's Kennell and Casey on 93 WIBC. So Walt Disney has lost nearly $900 million on

0:14.0

its past eight studio releases. This includes the Little Mermaid, also Guardians of the Galaxy.

0:20.9

They had some just outriof flops, Strange World and Lightyear did not do very well at all.

0:27.3

Just last month, it's being reported that they're starting their third and final round of layoffs

0:33.1

looking to slash 7,000 jobs. Casey before I came here, I primarily earned my living owning various

0:41.3

businesses. And one of my favorite things to do, some of them went very well, some of them didn't

0:47.1

go as well as others. That's part of being an entrepreneur as you get into things and sometimes

0:52.0

they work great and sometimes they they don't. But one of my favorite things to do,

0:56.8

and buddy that I've owned a couple businesses with, we will chuckle about this to this day,

1:01.4

is we will see something like this. And then we will talk about a business we had that didn't

1:06.5

make money and go, well, could have been worse. Could have been Walt Disney. Could have been Disney.

1:11.4

Now you're probably thinking to yourself, well, go, go, go broke, right? It's actually a little

1:16.9

deeper than that when it comes to Disney. Because typically when a movie is released,

1:22.0

then you'll get it on like Netflix or Amazon Prime. And that's like a split. They split the cost

1:29.9

with say, Disney. With Disney, pretty much told a lot of all of those companies, no, we're doing

1:35.6

our own thing. And they launched Disney Plus. Yeah. Well, guess what? Nobody's paying the extra money

1:42.9

for Disney Plus. Isn't it fascinating? The new frontier. And we have talked about this before.

1:47.2

The new frontier in which we live where it used to be, there was a pretty simple playbook.

1:52.5

I have movie. And the music industry is kind of the same way. We've talked a lot about

1:57.6

got artists that made it and artists that didn't make it. And a lot of it was representation and

2:02.4

agencies and whatever. You know, Bruce Springsteen, the greatest songwriter that ever lived,

2:06.7

probably not. But he's the guy that they put out there. And he delivered. And so he's remembered

...

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