As Wall Street parses its earnings beat and stagnate streaming subscriber growth, the company revises its spending expectation from $24 billion to $23 billion for produced and licensed content, as well as sports rights. “In terms of cost cutting, as a company, we’re focused constantly on identifying opportunities where we’re spending money perhaps less efficiently and looking for opportunities to do it more efficiently,” CFO Hugh Johnston told analysts.
Source: Disney Lowers Content Spending Estimate by $1B for This Year