The Walt Disney Company owns some of the biggest franchises of all-time from Marvel to Star Wars and Indiana Jones, but according to a new report Disney is looking to sale some IP from both film and television to rival studios.
According to Bloomberg, Disney us seeking to earn more cash from it enormous content library. This move would change the company’s strategy of putting a majority of its original programming to their streaming services Disney+ and Hulu, as pressure mounts to curb their losses in the streaming sphere.
Last year, the company turned in its worst stock market results in decades. After Disney reported a $1.5 billion loss for its online video business in the third quarter, the board fired Chief Executive Officer Bob Chapek. Taking over for Chapek is the return of Bob Iger, who held the job for 15 years. Iger is now in a position to get the company back on track, all while dealing with a proxy fight by activist Nelson Peltz, who’s seeking a seat on Disney’s board and pushing for better performance.
Iger has already reversed decisions made by Chapek during his short tenure including offering free photos and lowering the price of tickets to its theme parks, which caused an uproar from passholders and visiting guests alike. Restructuring on the executive side have already taken place. Iger is expected to reveal more details and changes on February 8 during their Q1 earnings call.
The Walt Disney Company is already in the process of selling film and TV titles to rival studios. As of now, it is unknown if Disney will sell off titles to Hulu, which they own a stake in, or an outside studio/streamer.
No more Disney+ Premier Access
Iger has scheduled three years worth if films in theaters, as they prioritize theater going experience. This is in turn will give theater owners a bit of relief as they were threatened by rise in streaming and at-home premieres for big titles films. We have heard from sources that the company will not attempt Disney+ Premier Access releases going forward, something they did with big titles such as Mulan, Cruella, and Raya and the Last Dragon.
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