After Disney unceremoniously removed dozens of titles from Disney+ and Hulu at the end of May, the company on Friday recorded via an SEC filing a “$1.5 billion impairment charge in its fiscal third quarter financial statements to adjust the carrying value of these content assets to fair value.”
And that might not be the end of it – according to the same filing the company could incur charges up to $400 million “related to produced content.”
To explain: On May 26, Disney removed dozens of titles from direct-to-consumer streaming platforms Disney+ (including movies like “Stargirl” and “Wolfgang” and original series like “Willow” and “The Mighty Ducks: Game Changers”) and Hulu (shows like “The Hot Zone” and “Y: The Last Man,” movies like “Darby and the Dead” and “The Princess”).