JAKARTA - Disney+ and Hulu are starting to clean up events and films from their streaming services, as an action to reduce the company's taxes.
Reportedly, 58 titles will leave Disney+ and Hulu from May 26. The company has not confirmed yet, but Disney+ CFO Christine McCarthy said on a earnings call this month it was doing content curation to reduce taxes.
"We are in the process of reviewing content at our DTC service to align with strategic changes in our approach to content curation," McCarthy said.
McCarthy added that the company also suspected that there would be a decline in value in the June quarter by 1.5 billion US dollars to 1.8 billion US dollars, as a result of the removal of the event and film.
However, by writing down the value of content assets, Disney can remove them from the balance sheet and reduce its tax bills.
Although McCarthy's statement was convincing, many have speculated the company is trying to remove shows and films that no longer generate huge profits for them.
Part of the Disney+ titles to be removed include Big Shot, Clouds, Diary of a Future President and Benedict Society. While in Hulu, performances like Dollface,bully and Little Demon will disappear on the same date.
Launching DailyMail and Engadget, Monday, May 22, as soon as the news went viral, social media exploded with many users tweeting their disappointments.
They voice dislike for companies that delete their favorite shows and films, especially as some of them have only been shown for a few months.
Some people also criticized Disney for removing content related to LGBTQ +. For example, my documentary about Howard Ashman, a gay man who helped write some of Disney's most famous hits, such as Beauty and the Beast, Under the Sea, and Friends Like Me.
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