Core Insights - Subscription cancellations for Disney+ and Hulu increased significantly in September, coinciding with the temporary cancellation of "Jimmy Kimmel Live!" due to controversy surrounding comments made by the host [1][3] - The total cancellations in September were reported at 4.1 million for Hulu and 3 million for Disney+ [3] - The churn rate for Hulu rose from 5% in August to 10% in September, while Disney+ saw an increase from 4% to 8% in the same period [3] Subscription Trends - Despite the rise in cancellations, signups for both Hulu and Disney+ were higher in September compared to the previous five months [4] - Disney reported a total of 183 million subscriptions for Disney+ and Hulu in its latest earnings report for the quarter ending June 28 [4] - Antenna, the subscription analytics company, tracks US consumer data and excludes subscribers from bundle deals [4]

Core Viewpoint - The controversy surrounding Jimmy Kimmel's comments about the assassination of political activist Charlie Kirk led to a temporary suspension of his show, sparking a national debate on free speech and the role of media in political discourse [1][2][4]. Group 1: Controversy and Suspension - Jimmy Kimmel's remarks about Charlie Kirk's death were perceived as a distortion by some right-wing media, prompting calls for his show to be dropped by TV stations [2][3]. - The show was suspended by Nexstar Media Group Inc., Sinclair Inc., and ABC, with demands for Kimmel to apologize and donate to Kirk's cause [4]. - Kimmel returned to the air on September 23, achieving his highest-ever ratings following the suspension [4]. Group 2: Economic Context - The late-night show format is facing economic challenges due to competition from streaming platforms and changing viewer demographics, leading CBS to cancel "The Late Show with Stephen Colbert" for financial reasons [5]. - Kimmel noted that low ratings for preceding shows have negatively impacted his viewership, alongside the availability of clips on YouTube [5]. Group 3: Future Considerations - Kimmel's contract is set to expire in May, and he has not confirmed whether he will continue hosting "Jimmy Kimmel Live!" after that [3]. - Despite the financial pressures, Kimmel expressed skepticism about reports claiming that shows like his and Colbert's are losing tens of millions of dollars, citing additional revenue sources [6].

Event Announcement - Jimmy Kimmel, Host & Executive Producer of Jimmy Kimmel Live!, will join Bloomberg Screentime program [1] - The conversation will be live on October 8th at 7:40 PM PT [1] Key Personnel - Lucas Shaw will host the conversation with Jimmy Kimmel [1] Media Coverage - Bloomberg Live will provide coverage of the event [1]

Core Insights - Disney's image and its streaming service Disney+ have reached multiyear lows following the temporary removal of comedian Jimmy Kimmel from the air, which has alienated both political parties [1][2][4] - Sentiment towards Disney and Disney+ has declined significantly, with Democrats showing a sharper decline compared to Republicans, marking the lowest sentiment levels in at least two years [2] - The recent price increase for Disney+ has contributed to the negative perception surrounding the brand during a controversial period [3] Group 1 - Disney's decision to pull Kimmel's show was influenced by comments he made about a conservative activist, leading to concerns over the network's broadcast license [4] - The backlash from both political sides indicates a broader cultural impact and potential risks for Disney's brand image [1][4] - The sentiment analysis conducted by Jefferies highlights the significant drop in public perception, particularly among traditionally supportive demographics [2][3]

Core Insights - The recent turmoil in late-night television, including the cancellation of "The Late Show with Stephen Colbert" and the temporary suspension of "Jimmy Kimmel Live!", has raised concerns about ratings and revenue in this segment [2][3] - The situation has highlighted the importance of live programming for advertisers and media companies, as it represents one of the few remaining options for reaching engaged audiences [3][4] - The cancellation of Colbert's show and the suspension of Kimmel's show have led to significant viewer interest, resulting in temporary ratings surges that advertisers missed out on [6][7] Industry Impact - The cancellation of "The Late Show with Stephen Colbert" by CBS parent Paramount was driven by financial considerations, indicating a shift in the economic landscape of late-night programming [6] - Disney's ABC faced challenges when "Jimmy Kimmel Live!" was pulled off the air, with over 20% of the country unable to watch the show for several days due to preemptions by major broadcast station owners [5] - The advertising landscape for late-night television is under pressure, as the loss of key shows diminishes options for advertisers who rely on live content to engage viewers [3][4]

Core Insights - Disney experienced a significant loss of over 1.7 million paid subscribers across its streaming platforms, including Disney+, Hulu, and ESPN, following the suspension of late-night host Jimmy Kimmel, marking a 436% increase in subscriber churn compared to the baseline [1][11]. Subscriber Impact - The cancellations occurred over a six-day period from September 17 to September 23, coinciding with the controversy surrounding Kimmel's comments on the assassination of conservative activist Charlie Kirk [1][2]. - Social media users shared screenshots of their subscription cancellations, indicating a strong public reaction to Disney's decision [2]. Kimmel's Suspension and Backlash - Kimmel's suspension led to accusations of government-imposed censorship from Hollywood creatives, labor unions, and media figures [6]. - Following the backlash, Disney reached an agreement to reinstate Kimmel, although Sinclair and Nexstar initially refused to air the show, affecting its availability to a significant portion of the audience [6][7]. Viewership Trends - Kimmel's return to the airwaves initially garnered record ratings, with 6.5 million viewers for the first episode, but viewership dropped significantly to 2.3 million by the following Thursday, representing a 64% decline [8]. - The show also saw a drastic decrease in key demographics, losing 73% of viewers aged 25-54 and 18-49 within 48 hours of its return [10]. Pricing Changes - Concurrently, Disney announced upcoming price increases for its streaming services, with the Disney+/Hulu bundle rising from $11 to $13, and Disney+ Premium increasing from $16 to $19 [12]. - The ad-supported Disney+ plan will increase from $10 to $12, while Hulu + Live TV with ads will see the largest jump from $83 to $90 [13].

Core Viewpoint - The cancellation of "Jimmy Kimmel Live!" by ABC and Disney has created significant ripples in the broadcast industry, with competitors like Nexstar Media Group leveraging the situation amid political unrest [2][3]. Industry Impact - The suspension of "Jimmy Kimmel Live!" on September 17, 2025, was a response to comedian Jimmy Kimmel's controversial comments, leading to alternative programming being aired by other networks [3]. - Nexstar Media Group has chosen to keep the show on pause indefinitely, a decision that may reflect both viewer alienation in swing markets and a strategic move to align with the current administration as it seeks to acquire Tegna, Inc. in 2026 [4][8]. Strategic Moves - Nexstar's founder, Perry Sook, is seen as potentially exploiting the turmoil to advance the company's acquisition bid for Tegna, indicating a strategic alignment with regulatory pressures [5][8]. - The decision to pull politically charged programming could signal Nexstar's willingness to censor content under the guise of serving the "public interest," which aligns with Sook's previous statements on reducing "activist journalism" [8]. Regulatory Environment - The FCC's focus on enforcing the "public interest rule" raises questions about the definition and implications of such regulations, particularly concerning perceived biases in broadcasting [6]. - Concerns about media polarization and censorship are heightened as local affiliates like Nexstar gain more control over national content, potentially shifting power dynamics in the industry [11]. Future Considerations - The ongoing situation with Nexstar and its potential acquisition of Tegna could lead to increased media consolidation, raising anticompetition concerns and impacting the diversity of viewpoints available to the public [8][11]. - The ability of large affiliate owners to censor content may challenge the traditional network-affiliate relationship, affecting the autonomy of national broadcasters [9][11].

Core Viewpoint - The controversy surrounding Jimmy Kimmel's comments has led to significant media and regulatory responses, highlighting tensions between free speech and community standards in broadcasting [5][10]. Group 1: Broadcasting Decisions - Sinclair Broadcast Group and Nexstar Media announced they would resume airing "Jimmy Kimmel Live!" after initially refusing to do so, indicating a shift in their stance following public reaction [1]. - Sinclair stated that their earlier decision to preempt the show was independent of government influence, emphasizing a balance between free speech and community standards [3][5]. - Nexstar expressed its commitment to protecting the First Amendment while ensuring that aired content serves the best interests of the communities [5]. Group 2: Regulatory and Political Reactions - Federal Communications Commission Chairman Brendan Carr criticized Kimmel's statements, suggesting that ABC had an obligation to act, which raised concerns about potential regulatory scrutiny [7][8]. - The White House clarified that the decision to suspend Kimmel's show was made by ABC executives, distancing the administration from the controversy [8]. Group 3: Cultural Impact and Viewer Response - The incident has sparked a broader cultural debate over free speech, with notable figures in Hollywood and organizations like the ACLU condemning the suspension as a threat to First Amendment rights [10]. - Kimmel's return episode attracted over six million viewers, where he addressed the controversy, stating it was never his intention to trivialize the murder of a young man [10].

Market Reach - Sinclair 和 Nexstar 合并拥有超过 60 家 ABC 分支机构，覆盖包括华盛顿特区、新奥尔良、西雅图和圣路易斯等市场 [1] - 这些分支机构将从周五开始再次播出 "Jimmy Kimmel Live!" [1]

Core Viewpoint - Nexstar Media Group announced the return of "Jimmy Kimmel Live!" to its owned and partner television stations affiliated with the ABC Television Network, following Disney's recent decision to revoke its affiliation [1] Group 1 - Nexstar Media Group is set to reinstate "Jimmy Kimmel Live!" on its television stations [1] - The announcement comes shortly after Disney's revocation of its affiliation with the show [1]