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- Disney Makes Streaming Its 'Top Priority', Beats Wall Street Expectations
Disney Makes Streaming Its 'Top Priority', Beats Wall Street Expectations
Disney Makes Streaming Its 'Top Priority', Beats Wall Street Expectations
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Wall Street is loving Disney right now. The company's second-quarter report impressed investors, announcing it has added an additional 12.4 million new subscribers to Disney Plus and made a profitable comeback at its theme parks. Disney stock shot up more than 5% in after-hours trading.
📚 Microsoft and the city of Los Angeles have launched a free, four-month training program for veterans to learn tech skills.
📝 Cal State L.A.'s LEEAF accelerator is seeking BIPOC women applicants for its program by August 15.
👟 Los Angeles-based clothing line Kids of Immigrants is launching its classic Old Skool skate shoe as its latest collaborative project.
🚀 Rocket Lab agrees to build three of its Photon spacecraft for Varda Space Industries.
🕹 Activision Blizzard has dismissed four game developers amid a toxic workplace scandal.
🪞 Long Beach-based Beauty Health Company has appointed two new executives at its Asia Pacific headquarters.
🍎 Los Angeles agtech startup ProducePay is launching an online marketplace for growers and producers in the U.S., Mexico and South America.
📺 Study: Two-thirds of movie watchers prefer watching new flicks at home instead of going to the theater.
Disney CEO Bob Chapek says streaming is a "top priority" for the company, given that Disney turned over $17 billion in total revenue, of which about 25% came from its streaming entities, which also include Hulu and ESPN Plus.
Disney remains well behind Netflix in terms of subscribers, but the company thinks it has plenty of room for continued growth. Following launches this quarter in Thailand and Malaysia, it plans to expand its footprint in Japan, South Korea and Hong Kong later this year.
Jukin Media, the company that licenses and acquires pet videos and other user-generated content, has been plucked up by Trusted Media Brands, a New York-based media company best known for its publications including "Reader's Digest" and "Taste of Home." Together, the two companies hope to scale their diversity of content across the internet.
North Hollywood-based company Xos made a big splash this week with its announcement to supply FedEx with a fleet of electric delivery trucks. Now it says it's launching a mobile charging station for electric truck fleets.
Last week, one of the biggest players in cell therapy, Kite Pharma, announced it will work with the cancer startup Westwood-based Appia Bio to create breakthrough drugs. The deal could be worth up to $875 million.