Disney plans to spend $1B on theme parks after profit falls

11 November, 2017, 01:10 | Author: Ruben Patrick
  • Successful franchise Monsters Inc. inspired the 2013 sequel Monsters University and the more recent short Party Central

It does, however, mean that Disney will be increasing the price as the catalogue grows.

Iger also said that original programming from other sources may be licensed for the streaming service, which is set to be cheaper than Netflix's current $11 a month cost.

A wicked hurricane season, falling advertising sales and a cancelled movie sapped fourth-quarter profit at Disney, the company said, leading to the first drop in annual results since the financial crisis nearly a decade ago.

Mr. Iger also provided some information on pricing for the service, saying it will be "substantially below" that of Netflix Inc. because it will start with "substantially less volume".

Thanks to the company's talkative CEO, we have a good idea about when it will launch, how much it will cost, and what types of shows and films it might stream.

Having also chose to pull Marvel and Lucasfilm movies off Netflix, the moves signal that Disney is not afraid to draw upon its vast well of intellectual property to lure in new subscribers.

Disney's Parks and Resorts segment, however, continues to show growth with revenue increasing 6% to US$4.7 billion, and segment operating income rising 7% to US$746 million.

Furthermore, the studio will produce "four or five" movies a year, exclusively for the Disney service.

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Disney reported earnings that fell short of expectations, sending the stock down after hours Thursday.

Earlier this year Disney confirmed its intention to pull all its TV series and films from streaming services such as Netflix and Hulu, ahead of the launch of its own, as-of-yet unnamed service.

'Johnson will introduce new characters from a corner of the galaxy that Star Wars lore has never before explored, ' said Lucasfilm in an official announcement.

Content Filtering: The service will not feature "R" rated content.

A series based on the Pixar film franchise, Monsters, Inc. Marvel's New Warrior could be one of the many series to come to the Disney streaming service.

It will develop a new "Star Wars" live action tv show along with other properties for subscribers. It would make sense that we would get more details at those times.

The service will launch in the US.

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