More like Disney minus, amirite?

If you’ve been holding off on watching Disney+’s Willow, Diary of a Future President, or Big Shot starring one John Stamos, now… might be a good time.

That’s because last week, Disney announced it will be removing a combined 70+ TV shows and movies from Disney+ and Hulu on May 26. Why? The move allows Disney to write off between $1.5 to $1.8 billion, according to the company’s most recent earnings call on May 10.

• To get a little finance-nerdy for a second: the company does this by taking a “content impairment charge.” Impairment charges are used to write off an asset whose value has dropped or been lost completely.

📺👋 Driving the move: According to Disney’s former and current CEO Bob Iger, bringing the company’s streaming division out of the red by the end of 2024 is his number one priority.

And though the company’s numbers from the past three quarters are squarely in the red, the losses are getting smaller (which we're told by experts is a good sign). Disney lost $659 million in Q1 of this year, a sizable improvement from last year’s Q4 and Q3 losses of $1.1 billion and $1.5 billion, respectively.

✂️ All part of the plan… Disney isn't the only studio channeling Edward Scissorhands. Over the past year or so, Warner Bros. Discovery has been gradually culling titles from HBO Max – including Westworld – for cost-cutting purposes.