Jill Goldsmith
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August 5, 2026 8:04am
Josh D'AmaroDisney
New Disney CEO Josh D’Amaro confirmed that the media giant is exploring “a free product for consumers,” i.e. FAST channels.
“We’re exploring a free product for consumers. One that will allow us to accomplish several goals and hopefully do that efficiently,” he said on a call with analysts after quarterly earnings. “First, we see it as a way to expand our reach to a customer segment that’s more price sensitive.
“Second, unlike a lot of our AVOD competitors were fairly well sold, meaning more inventory would actually help us accelerate our ad revenue growth. And … a free offering could help us drive top of funnel Disney+ subscriber growth. So, nothing specific to announce today, but definitely something that we’re considering.”
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The Q&A with analysts ranged across Disney’s business from streaming and parks to spending and costs. CFO Hugh Johnston said on the call that Disney is on track for about $24 billion in content spending this year, which is “up modestly” from FY25.
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“We plan to grow content spending from the current levels over time,” he said, noting that international, in particular, is “an opportunity where we think we can make a difference.”
At the same time, he said, “We’re highly focused on operating with speed and agility, and improving productivity and efficiency across the company, so we can invest in accelerating growth. I will tell you that this work is ongoing as we look at meaningful reductions to cost. including labor and SG&A, and we’ll update you on progress as we move forward.”
Disney cut several hundred jobs last month after a prior round of layoffs earlier this year.
Johnston said the company is also focused on shareholder returns through its semi-annual dividend, which has been increasing, and a large share repurchase program. That has risen to an anticipated $9 billion for fiscal 2026 using cash that had been set aside for Disney’s now scrapped $1 billion investment in OpenAI, and $1.2 billion expected from its just announced A&E transaction.
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