After taking a handful of shows and moves off of Disney+ and Hulu last week, Disney said that it will be incurring a $1.5 billion charge.
These charges will be made “to adjust the carrying value of these content assets to fair value.” Disney also said that it will continue to review content on streaming platforms, and anticipates removing even more produced content from direct-to-consumer streaming services.
As a result of this, Disney anticipates incurring further charges, upward of $400 million. Last month, Disney CFO Christine McCarthy said the company would take the charges. By writing down the value, McCarthy claims, it would be able to remove the $1.5 billion from its balance sheet and reduce its tax bill in the future.
The move comes following a fairly substantial purge on streaming services like Disney+ and Hulu, with the company removing more than 50 titles from both in total. Series like
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