Disney plans to match Netflix in its streaming budget
According to The Economist

Disney+ streaming service has been one of the great success stories of the year of lockdown. Launched a year ago with a target of reaching 60m-90m subscribers by 2024, it‘d hit that mark by this summer.

Disney said that in the next few years it would release around ten more “Star Wars” series, ten based on the Marvel comic books, 15 other new original series and 15 feature films. By 2024 its content spending on Disney+ will be $14bn-16bn across all its streaming channels (which include Hulu & ESPN+).

To help pay for all this, the company plans to raise the subscription price of Disney+ by a dollar a month. But that dollar will be multiplied by what it now expects to be 230m-260m subscribers by 2024 — more than treble its previous target.

Across all its streaming channels, Disney expects to have more than 300m paying subscribers by 2024. This could be enough to make streaming the company’s single largest business by revenues.

The spending spree will also worry cinema-owners. WarnerMedia, a subsidiary of AT&T, a telecoms group, shocked them last week with its announcement that in 2021 all its feature films will be released on its HBO MAX. The first movie to get this treatment, on Christmas Day, will be “Wonder Woman 1984”.

Follow us on our Instagram.
['Tech Rule']
['Disney Plus', 'Marketing', 'Netflix', 'Technology', 'Streaming']