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Transcripts For BBCNEWS World Business Report 20240706

so we start in the us, where, as you ve been hearing, the world s biggest entertainment company, walt disney, is axing 7000 jobs as part of a cost cutting drive. it comes as the company revealed the first fall in subscribers to its streaming service, disney+, since it was launched more than three years ago. veteran ceo bob iger has returned to run the company again after its shares lost almost half their value last year, as michelle fleury reports from new york. this is ceo bob iger s first set of results since returning to the company in november, attempting to revive the storied brand and cement his legacy, he said disney was embarking on a significant transformation, putting creativity at the heart of everything it does, while announcing the elimination of 7000 jobs as it seeks to trim costs by $5.5 billion. his comments point to the future, but results showed the mouse house performed better across a number of areas in the last months, compared to the dismal showing that

Transcripts for BBCNEWS World Business Report 20240604 05:34:00

critical. in terms of the - numbers, by all accounts it was a good quarterfor disney, better than the last one, and as you said, it was hotly anticipated. i think bob iger is breathing a sigh of relief and so i disney investors. they would be on revenue profit and the loss of subscribers, and while it was the first time the disney+ lost subscribers, it was less that was anticipated. as you indicated, there was a price hike and they also lost the or they were unable to secure the rights to ipl cricket in india, so that brought some of the numbers down in india. so overall, disney+ subscribers went down a bit, but it was not terrible, and in general terms, bit, but it was not terrible, and in generalterms, i bit, but it was not terrible, and in general terms, i think it was a very strong quarter. the signals he gave afterwards were also, i think, encouraging, and the stock going up after hours reflected that. , , going up after hours reflected that. , , ~ ., going up after hours

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