Business Briefs: Movie Pass, Disney, toy salesPosted: Updated:
There are more changes for Movie Pass. Subscribers will now be limited to only three movies a month. Before, they were allowed one movie per day. The company's CEO tells the Wall Street Journal the new policy will slow its cash burn rate by 60 percent. Movie Pass has struggled in recent weeks, including service outages at most theaters.
Disney has some serious regrets about selling the TV rights to Star Wars. The company sold broadcast rights to the first six films in 2016 to Turner Broadcasting. The eight-year deal is worth $275 million. Bloomberg says Disney now wants them back for its upcoming streaming service, but talks with Turner are at a standstill.
Market research company NPD Group says toy sales are up 7 percent for the first half of the year. They say nostalgia over the closure of Toys R Us have kept toys at the top of minds, resulting in parents and grandparents buying more.