Wednesday, 21 August, 2019

Dark Phoenix and Fox Films Surprise Disney with Big Financial Loss

Disney earnings miss forecasts as cost of building streaming video rise Disney Plus, Hulu and ESPN Plus discounted bundle announced
Adrian Cunningham | 08 August, 2019, 02:29

The aggressive pricing could also create headaches for HBO Max, a streaming service from AT&T Inc. that's scheduled to launch next spring. The company is scrambling to adapt to industry disruption from Amazon, Netflix and others, so it is betting big on a subscription package that offers a variety of content for cord-cutters. This bundle makes Disney+ a very attractive offering and gives the likes of Netflix and Apple's upcoming streaming service Apple TV+ a run for their money.

Disney chariman Bob Iger revealed that the service will feature a number of reboots of films from the recently acquired Fox catalogue, such as Home Alone. The House of Mouse just announced plans to unveil a streaming bundle that includes Disney Plus, Hulu and ESPN Plus for only $12.99 per month, according to a report from The Verge.

Macaulay's had a pretty good sense of rumor about reprising his iconic Christmas movie role that launched him into superstardom way back in 1990. including this ad for Google this past holiday season. The company previously indicated that it would offer Disney+ as part of a streaming bundle, but additional details weren't available until now.

The troublemaker comedy "Home Alone" is getting a reboot, thanks to Disney. Disney+ on its own will cost $6.99 when it starts streaming on November 12 with a slate of new and classic TV shows and movies.

Iger also revealed plans for global roll-out of the service, suggesting it was safe to assume that Disney was going to launch in multiple worldwide markets within two years, certainly within three years, of launch in the United States, in a couple of other markets.

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Disney, which is also studying opportunities to expand the Hulu business in worldwide markets, will coincide with the launch of Disney+ platform with its bundled package roll-out of its on 12th November.

"The Fox studio performance...was well below where it had been and well below where we'd hoped it would be when we made the acquisition", Iger said (via THR), citing a $170 million loss by the studio (specifically due to the flop Dark Phoenix).

Marketing of the new service will start later this month in the US. Disney is making the package available November 12, the same day Disney Plus is launching.

All of which is to say, this is an aggressively competitive move by Disney, to price its long-expected bundle of these three services at this price point.