The Spiderwick Chronicles TV series adaptation looks to be the latest victim of Disney’s purge of non-sports centred content. The House of Mouse announced a major content write-off in May, pulling many titles (such as National Treasure) from its streaming shelves.
“We are in the process of reviewing the content on our DTC services to align with the strategic changes in our approach to content curation,” said CFO Christine McCarthy on the company’s post-earnings call.
“As a result, we will be removing certain content from our streaming platforms, and currently expect to take an impairment charge of approximately $1.5 to $1.8 billion. The charge, which will not be recorded in our segment results will primarily be recognized in the third quarter as we complete our review and remove the content.”
Adapted from Tony DiTerlizzi and Holly Black’s popular children’s books, The Spiderwick Chronicles live-action series tells the story of the Grace family. Upon relocating to their ancestral residence, The Spiderwick Estate, they unexpectedly uncover a parallel realm inhabited by fairies. The series was announced in November 2021 as part of Disney+ Day.
Amid ongoing strikes, the development and approval of new content have been halted as Disney+ is undergoing changes in its non-Marvel/Star Wars live-action shows. Most of the first wave of original series are no longer part of the platform, with the latest casualty being Doogie Kamealoha, M.D., which was cancelled after two seasons.
The finished six-episode The Spiderwick Chronicles TV series, produced by Paramount Television Studios and 20th Television, is currently being presented to other potential purchasers.
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