From Slate Magazine · Nitish Pahwa · · 1m 30s
Netflix and Disney scramble to survive
Streaming giants Netflix and Disney face corporate upheaval as Skydance's David Ellison aims to outspend them.
In brief
Streaming giants Netflix and Disney face corporate upheaval as Skydance's David Ellison aims to outspend them. Netflix and Disney are making drastic cuts and partnerships to survive against Skydance Corporation, which has absorbed Warner Bros. Discovery under David Ellison's leadership. Originally reported by Slate…
Corporate survival
The entertainment industry faces a decisive transition with Disney, Netflix, and Skydance Corporation vying for survival.
Skydance's rise
Skydance Corporation, led by David Ellison, acquired Warner Bros. Discovery this month to form a multibillion-dollar media empire.
Skydance's goals
Ellison aims to outspend Disney and Netflix despite facing multibillion-dollar debt and a cratering stock price.
Netflix's struggles
Netflix has faced subscription drop-offs, lower ratings, and a failed bid to acquire Warner Bros. Discovery.
Netflix layoffs
Netflix cut 6 percent of its staff, including top content officers and division managers.
Netflix-Disney partnership
Disney will allow Netflix to stream certain titles, including Plus Originals, for varying lengths of time.
Disney's restructuring
Disney is becoming a more efficient organization under new CEO Josh D'Amaro with internal consolidation and external deals.
Political ties
David Ellison's father, Larry, has financial ties to Trump and supports federal use of Oracle applications.
Regulatory battles
Disney faces legal battles with the FCC over ABC News programming and antitrust concerns from Republican lawmakers.
Competitive pressures
Netflix and Disney must adapt to technological changes while facing competition from Skydance's government connections.
The one thing
Netflix and Disney are making drastic cuts and partnerships to survive against Skydance Corporation, which has absorbed Warner Bros. Discovery under David Ellison's leadership.
