Disney, on Thursday, made impressive Disney+ announcements with over 100 movies and shows connected to franchises like Star Wars, Marvel, FX, and National Geographic, reports CNBC. The company also plans to increase the cost of the service to $7.99, up $1
- Disney boosted estimates for its Disney+ subscriber numbers to between 230 million and 260 million by 2024
- The company will spend between $8 million and $9 billion in 2025 across its five core brands.
- Of the around 100 projects that Disney shared on Thursday, about 80% go directly to Disney+.
- The company has several films in the pipeline, including two new Pixar films coming in 2022 and a massive slate of Marvel movies and non-franchise films like “Jungle Cruise.”
- Disney has tapped pop culture icons for its projects, and theatrical releases, with new shows in the Star Wars universe featuring fan-favorite character, Ahsoka Tano.
- Bob Iger, Disney’s chairman and former CEO, said the newly minted strategy, focusing heavily on its year-old streaming service Disney+ is all about “quality not volume.”
- Disney+ is also adding an “opt-in to mature content” feature, allowing older audiences to sign in and watch titles like “Logan,” “Modern Family,” and “Atlanta.”
- The company is keen on Disney+ international operations after a launch in Latin America and now focuses on Eastern Europe, South Korea, and Hong Kong in 2021
- Disney struck a deal with Comcast to bring Disney+ and ESPN+ to the cable company’s set top boxes and platforms and reach more than 20 million Comcast cable and internet customers.
- Disney+ now has 86.8 million subscribers, up from the 73 million reported at the end of its fourth fiscal quarter.
- Disney is set to reach peak losses in fiscal 2021 and return to profitability in 2024.
Disney’s stock is currently gaining. DIS: NYSE is up 9.77%.
