Walt Disney’s Pixar Animation Studios has cut 75 positions, including two executives, following the box office disappointment of “Lightyear.” Netflix shareholders have withheld support for the company’s executive pay package, with the Writers Guild of America West urging investors to vote against the proposed 2023 compensation. Taiwan’s Shinehouse theatre group is showcasing a Hong Kong play about Tiananmen Square to mark the 34th anniversary of the crackdown in Beijing. Sony Pictures’ “Spider-Man: Across the Spider-Verse” sequel aims to broaden the stories of the Spider people and build new worlds. Walt Disney Co has removed produced content from its direct-to-consumer services, recording a $1.5 billion impairment charge.
As mentioned in a news article on Devdiscourse, Walt Disney’s Pixar Animation Studios has made significant job cuts, including those of two executives behind the box office disappointment “Lightyear.” The s stated that 75 positions were eliminated, marking the first major job cuts at the studio in a decade.
Among those who were let go were “Lightyear” director Angus MacLane, a 26-year animator who was part of the senior creative team on such acclaimed films as “Toy Story 4” and “Coco.” Galyn Susman, producer of “Lightyear,” also departed. Susman had been at Pixar since the release of the original “Toy Story” movie in 1995.
In other news, Netflix Inc shareholders recently withheld their support for the company’s executive pay package in a non-binding vote. The decision followed a call by striking Hollywood writers to reject the proposed 2023 compensation. The Writers Guild of America West had urged investors to vote against the compensation offered to Netflix’s top executives, arguing such a vote would be “inappropriate” during the strike, which has entered its fifth week.
Meanwhile, a Taiwan theatre is showcasing a Hong Kong play about Tiananmen Square to mark the 34th anniversary of the crackdown in Beijing. The Shinehouse theatre group, with the support of rights group Amnesty International, is putting on six performances of “35th of May” in Taipei from June 2-4. The play is about parents grieving for their son killed in Tiananmen Square and sheds light on shrinking freedoms in the former British colony.
In the world of animated adventure, American film-producing and writing duo Christopher Miller and Phil Lord have broadened the stories of the Spider people for Sony Picture’s “Spider-Man: Across the Spider-Verse.” For their sequel to 2018’s “Spider-Man: Into the Spider-Verse,” they have sought to build new worlds to immerse audiences in a web of animated adventure.
Lastly, Walt Disney Co has removed certain produced content from its direct-to-consumer (DTC) services and will record a related $1.5 billion impairment charge in its fiscal third-quarter financial statements. The move comes as the company continues to shift its focus towards streaming and direct-to-consumer offerings.
In summary, these developments in entertainment news highlight the ongoing changes and challenges that the industry faces, from job cuts to shifting consumer preferences. As the industry continues to evolve, it will be interesting to see how studios and companies adapt to these changes and continue to provide engaging content for audiences.