The Walt Disney Company have revealed their plans to spend approximately $33 billion on new content over the next year.
According to The Hollywood Reporter, Disney are planning to spend $33 billion on new content for their video streaming platform Disney+ over the next year.
The news publication added that a large chunk of the figure, will mostly go to sports rights, which are incredibly expensive and locked in “long-term contracts”.
Disney says it will spend $8B more on content in 2022 than 2021, mostly on shows and movies for its streaming platforms https://t.co/gh2izBZwMV
— The Hollywood Reporter (@THR) November 25, 2021
Digital TV also report that Disney, “emerged as the biggest single global spender on content in 2020” beating the likes of Netflix and Amazon Prime.
“Disney’s Studios division plans to release some 50 titles for theatrical release and on its direct-to-consumer platforms, while its General Entertainment division plans to produce or commission 60 unscripted series, 30 comedy series, 25 drama series, 15 docuseries/limited series, 10 animated series and 5 made for TV movies in fiscal 2022,” The Hollywood Reporter said.
Just two years after the streaming service launched, Disney+, “is projected to make over $10 billion for Disney in 2021” the service also “reached over 100 million subscribers in March 2021” as reported by the Business of Apps.