Industry giant, The Walt Disney Company’s (DIS) third-quarter earnings report showed an 89.8% year-over-year decline in net income to negative $153 million. Moreover, the writers’ strike continues to impact entertainment giant DIS.
On May 17, 2023, DIS’s CFO Christine McCarthy said at Moffett Nathanson’s Inaugural Technology, Media, and Telecom conference that the entertainment giant’s content spending will hit around $30 billion this year. However, she warned the strike could impact spending for the remainder of the fiscal year.
