Disney has annouced that it is shifting its focus to the streaming space while still utilising theatrical distribution.
The world of movies is changing, exasperated by the pandemic crisis, with more studios looking to the streaming space to get their content to audiences. Disney has found big success with Disney+ and has now revealed that this is where their focus will lie, along with their other streaming platforms.
The company released a press release stating their intentions and they have now formed a single global Media and Entertainment Distribution group to oversee all areas of its streaming platforms.
CEO Bob Chapek has said: “Given the incredible success of Disney+ and our plans to accelerate our direct-to-consumer business, we are strategically positioning our Company to more effectively support our growth strategy and increase shareholder value. Managing content creation distinct from distribution will allow us to be more effective and nimble in making the content consumers want most, delivered in the way they prefer to consume it. Our creative teams will concentrate on what they do best—making world-class, franchise-based content—while our newly centralized global distribution team will focus on delivering and monetizing that content in the most optimal way across all platforms, including Disney+, Hulu, ESPN+ and the coming Star international streaming service.”
SEE ALSO: Pixar’s Soul going straight to Disney+ for Christmas Day release
This will be more bad news for cinemas and theater chains around the world who are struggling to stay alive during this crisis. However, despite moving a number of titles to Disney+ this year, including Artemis Fowl, Mulan, and Soul – the company has confirmed they are not abandoning theatrical releases entirely. At least, not yet…
What are your thoughts on Disney’s decision? Do you think the movie theater’s days are numbered? Let us know on our social channels @FlickeringMyth…
