Part 4/15:
For Disney, in particular, this includes extensive use of the UK film tax credit system, which has awarded the company over $2.2 billion in taxpayer-funded incentives, primarily from the UK alone. These subsidies allow Disney to significantly reduce the actual cost of producing Hollywood blockbusters, often disguising enormous production expenses in public disclosures, which are deliberately kept opaque in US filings.
Moreover, Disney employs internal "check" payments from its theme parks division, such as Snow White or Little Mermaid IPs, to the film studio arm—effectively reimbursing itself through licensing revenue to offset losses in theatrical releases. This practice helps inflate the studio's apparent profitability while concealing the true state of its financial health.