Disney makes "strategic changes" and may delete more movies and TV shows from streaming media

The Walt Disney Company is reviewing more of its titles and is “removing certain content from its platforms” as part of “strategic changes” currently underway at the company, according to a new filing with the U.S. Securities and Exchange Commission (SEC) late last month.

Last month, Deadline reported that many shows, including "The Man from Nowhere" and "The World According to Jeff Goldblum," will leave Hulu and Disney+ on May 26. According to SEC filings, Disney will save $1.5 billion in impairment charges and will receive up to $400 million in gains from the removals.

The filing reads: "The Company currently expects any such fees and payment awards related to licensed content to be significantly less than impairment charges related to production content. In addition, the Company may terminate certain rights licensing agreements for use of content on its platform, resulting in the removal of licensed content from its platform."

Simply put, Disney believes that the continued licensing rights for content on its streaming platform Disney+ are higher than the benefits it can obtain, so it decided to cut operating costs. This also means that Disney+ will gradually delete more works.

In addition to this, CEO Bob Iger announced last month that Hulu and Disney+ will be merged into a single app by the end of 2023.