Core Viewpoint - The ongoing negotiations between Disney and YouTube TV regarding the carriage fees for Disney's streaming channels have stalled, leading to significant subscriber losses for YouTube TV and revenue losses for Disney [1][4][5]. Group 1: Negotiation Status - Disney's CFO indicated that the company has prepared for a prolonged negotiation period due to the YouTube TV outage [2] - Disney CEO Bob Iger emphasized the importance of reaching a deal that reflects the value Disney provides [2] - The disagreement centers around the carriage fees YouTube TV pays to Disney, with Disney asserting that YouTube TV is not paying enough [3][9] Group 2: Subscriber Impact - Approximately 24% of YouTube TV subscribers have canceled or plan to cancel their subscriptions due to the lack of core content [4] - YouTube TV has over 9 million subscribers, making it the largest internet TV provider, while Hulu has 4.3 million [3] - Disney is reportedly losing around $30 million in revenue per week during the outage, which translates to a 2-cent drop in adjusted earnings per share for Disney [5][8] Group 3: Historical Context - Disney has experienced similar disputes in the past, with previous conflicts typically resolved within a week or two [6][7] - The current outage has lasted longer than previous disputes, raising concerns about the potential for further subscriber losses [8] Group 4: Company Statements - Disney accused YouTube TV of not negotiating in good faith and attempting to devalue Disney's content [11] - YouTube TV stated that it advocates for fair pricing to provide the best experience for its members [9] Group 5: Compensation for Subscribers - YouTube TV is offering a $20 credit to subscribers affected by the outage, with some receiving it automatically and others needing to claim it [15][19]

Core Points - A contract dispute between Disney and YouTube TV has led to the removal of multiple Disney-owned channels from the streaming service, with no immediate resolution in sight [1] - The disagreement centers around the "carriage fee" that Google pays Disney for broadcasting its channels, a recurring issue for Disney with other broadcasters [1][4] - YouTube TV has rejected Disney's request to restore the ABC channel for election coverage, citing customer confusion as a reason [2] - YouTube TV has proposed to restore Disney channels while negotiations continue, but Disney claims YouTube TV is not paying fair rates [3][9] - Disney channels removed from YouTube TV include ESPN, ABC, FX, and several others, impacting a wide range of viewers [6][5] Company-Specific Insights - YouTube TV, owned by Google, has over 9 million subscribers, making it the largest internet TV provider, while Hulu, owned by Disney, has 4.3 million subscribers [4] - Disney has accused YouTube TV of deleting previously recorded shows from subscribers' libraries and not being interested in a fair deal [9] - YouTube TV has offered a $20 credit to subscribers if content remains unavailable for an extended period [8] Industry Context - Disney has faced similar disputes with other platforms, including Spectrum/Charter in 2023 and DirecTV in 2024, indicating a pattern of negotiation challenges [1][7] - The ongoing dispute highlights the significant bargaining power that Google holds compared to other platforms in the industry [7] - The situation reflects broader trends in the streaming industry, where content providers and platforms often clash over pricing and content availability [9]