Entertainment

Disney will spend $33 billion on content by 2022 to stream – The Hollywood Reporter

The Walt Disney Company is planning to increase its content spending during the fiscal 2022 calendar year, which begins October 1.

According to the company’s annual report, filed with the SEC Wednesday afternoon, Disney plans to spend about $33 billion on content over the next year, including streaming, linear, and content programming. sport.

That’s an $8 billion increase from fiscal 2021, when the company said it spent about $25 billion on content.

“The increase was driven by higher spending to support our DTC expansion and generally assumes no significant disruptions to production due to COVID-19,” the company wrote in the report. annual. In other words, the $8 billion increase in content is driven by the company’s streaming initiatives at Disney+, Hulu, and ESPN+, not any movie or TV business. any linear shape of the company.

The massive $33 billion in content spending can be driven in part by sports licensing, which is extremely expensive and locked into long-term contracts, but also underlines high stakes like when entertainment companies directly reach consumers. By comparison, Discovery CEO David Zaslav said that when his company merges with WarnerMedia, it plans to spend $20 billion on content in its first year, while Netflix spends nearly $14 billion on content. use this year.

Disney also revealed how many movies and TV shows it plans to release in 2022. Disney’s Studios division plans to release about 50 titles for release in theaters and on platforms directly to consumers, while General Entertainment plans to produce or deliver 60 films. series without description, 30 comedy series, 25 TV series, 15 documentary/limited films, 10 animated series and 5 TV series made in fiscal year 2022.

General Entertainment includes studios ABC and Disney TV, National Geographic and FX Productions. while Studios include Marvel Studios, Walt Disney Pictures, LucasFilm, Pixar and Twentieth Century Studios.

Source link

news7h

News7h: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button