Aug 5, 2020

Disney focuses on streaming as it falls to a loss

Disney plans to launch a new streaming service outside the US and release Mulan to its Disney+ streaming site next year as the media giant tries to build on its early streaming success. Last November, it launched the Disney+ streaming service in the US, later expanding into other markets, including the UK. Disney said it now has more than 100 million subscribers across its on-demand sites, which also include ESPN+, the general audience Hulu television site in the US, and the Hotstar streaming service in India. Chief executive Bob Chapek said Disney now plans to release its new live action remake of Mulan on Disney+ in a $30 "Premier access" deal in September. Paolo Pescatore, an analyst at PP Foresight, said Disney's streaming gains were impressive but it would need to continue to add new shows and content if it hopes to compete. Despite the subscriber gains, Disney's streaming business is not yet profitable, said Nicholas Hyett, equity analyst at Hargreaves Lansdown.

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