Disney is losing millions of dollars each day as its contract dispute with Google’s YouTube TV drags on.
According to a Morgan Stanley report, the entertainment company is losing about 4.3 million dollars a day, totaling roughly 30 million dollars a week. The blackout, which has now stretched into its twelfth day, has affected more than 20 Disney-owned channels, including popular networks like ABC and ESPN.
The issue began after Disney’s content agreement with YouTube TV expired at 11:59 PM ET on October 30. Since then, Disney’s channels have gone dark on the streaming service, leaving millions of subscribers without access. Google has accused Disney of pulling its channels as a negotiation tactic, claiming that the company’s proposed terms would lead to higher prices for YouTube TV customers. Disney, however, argues that Google is refusing to pay fair rates for its content, which has resulted in the standoff between the two media giants.
To ease frustration among subscribers, Google has been offering a 20-dollar credit to customers affected by the blackout. However, that hasn’t stopped viewers from leaving the platform. A recent survey conducted by Drive Research, which included 1,100 participants from the United States, found that nearly one in four respondents have either canceled or plan to cancel their YouTube TV subscriptions because of the missing Disney channels.
The ongoing dispute is proving costly not only for Disney but also for Google, as both companies face pressure from customers and advertisers. Analysts expect the two sides to resolve soon, possibly by the end of the week. Until then, millions of viewers remain without access to some of their favorite programs while the blackout continues to impact both companies’ revenues.
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