In the same week where Netflix CEO Reed Hastings dissed Disney+ as well as HBO due to its belief in its original programming, The Walt Disney Corporation has offered an indepth look at its losses and upcoming plans.
Despite sustaining losses, Disney invested in Hulu and acquired a major chunk of 21st Century Fox’s TV and film content but had a reason for it.
Disney has also invested in BAMTech that “has evolved into a digital media powerhouse, handling the technology that drives online initiatives including HBO Now, WWE Network, Riot Games/League of Legends, and Ice Network. Its clients serve 7.5 million global paid subscribers” reported Deadline.
All of this will lead up to the launch of Disney+ that comes out later this year and has original TV programming featuring the likes of Tom Hiddleston’s Loki and Elizabeth Olsen’s Scarlett Witch from The Avengers films with MCU head Kevin Fiege involved in their development. Plus, all the Star War films and new TV shows from the Star Wars universe. Add to that, because of the merger with Fox, Disney+ will have access to “a brand new roster of characters from the X-universe” including Fantastic Four and Silver Surfer.
“Our top priority is fully leveraging our global brands and great content to create world-class direct-to-consumer entertainment,” said Disney chairman and CEO Robert A. Iger in a statement. “We have the structure and management in place to drive growth in our DTC business, and our acquisition of 21st Century Fox further enhances our ability to deliver significant value to consumers and shareholders.”
The battle between streaming services has already begun with Amazon having created original programming as well with Apple also on the horizon.