Walt Disney Co's revamp of its media and entertainment businesses represents Hollywood's latest move to prioritize streaming media, raising questions about how much big media companies will continue to support movie theaters.
Disney is facing pressure from activist investor Daniel Loeb, founder of hedge fund Third Point, to increase funding to Disney+ and the rest of its streaming businesses.
Chief Executive Bob Chapek, speaking to CNBC television, described the shift as “tilting the scale pretty dramatically” toward streaming.and other digital video services. It shuttered theaters and forced experimentation with release patterns, upending the traditional practice of keeping a movie exclusively in theaters for a window of roughly 90 days before sending it to other platforms.
“Everybody is absolutely paralyzed and trying to read what is going on at every level and how that is going to trickle down into the way people watch movies,” Jenkins said in a recent interview. A premium video-on-demand model like the one Disney used for “Mulan” will not work for a studio’s biggest, most ambitious films, LightShed Partners analyst Rich Greenfield said in September, noting that a $2 billion box-office film can generate over $800 million in profit to a studio.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Analysis: More Speeches, Fewer Questions for Barrett as Hearing Continues - WSJ.comAnalysis: The confirmation hearing has been transformed into a debating platform, with the senators now using their 30 minutes largely to speechify instead of to ask Judge Amy Coney Barrett questions
Read more »
UC San Diego ends up with 5,000 fewer dorm students than projected, primarily because of coronavirusThe university also disclosed last week that the COVID-19 financial losses it expects to suffer will be about $200 million for 2020 and 2021.
Read more »
Struggling Theaters Should Buy Movies From The Streaming Services, Analyst SuggestsMovie theaters struggling to find any new Hollywood movies to show should consider cutting deals with an unlikely provider: Netflix, Amazon and other big streaming services, a MoffettNathanson report suggests.
Read more »
Walt Disney Co. reshuffles media and entertainment industries to focus on streaming, direct-to-consumer offeringsThe reshuffling is a sign of the growing success of the company's Disney+ subscription service — and, perhaps, the declining power of theatrical distribution during the coronavirus pandemic.
Read more »
‘Clouds’ Director Justin Baldoni Doesn’t Want People Risking Their Health to See Movies in TheatersWhat started out pre-COVID-19 as a Warner Bros. theatrical teen inspirational drama, “Clouds,” became an early-acquisition feature film for Disney Plus, which begins streaming the movie on Oct. 16.…
Read more »
Disney Reorganizes Content and Distribution Units to Bolster Streaming BusinessesThe Walt Disney Company announced a broad structural reorganization of its media and entertainment businesses Monday, in a move to ramp up and streamline its direct-to-consumer strategy. That invol…
Read more »