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And Disney lost five billion dollars.
https://www.cnn.com/2020/08/04/media...rus/index.html
[quote]On Disney’s 3Q earnings call today, it was announced that Mulan is going to Disney+ on Sept. 4.
Specifically, Disney will be releasing the film theatrically in certain markets where the studio currently has no announced launch plans for Disney+ and where theaters are open (i.e. China). The concern with opening the film in some theaters in the world, and not others, was, of course, piracy-related.
CEO Bob Chepak said it was important to find new avenues of distribution during the pandemic and that “in the U.S., Canada, New Zealand, and number of countries, we will be offering on Disney+, the epic Mulan on a premiere access beginning Sept. 4, with the price point being $29.99 in the U.S.”
Chepak added during a round of questioning with financial analysts, “We’re pleased to bring Mulan to a consumer base that’s been waiting for it as we’ve had to move our (release) dates several times…We’re looking at Mulan as a one-off as opposed trying to say that there’s a new business windowing model.” What Disney will be keeping an eye on with Mulan is the uptick in subscribers as well as transactions generated on the service with that new price point. So, exhibition, don’t lose your hair yet: Disney isn’t planning to take Black Widow out of theaters this November (at least not yet).
In regard to pricing Mulan at the near $30 price, Chepak added, “as you know it’s fairly expensive to produce for consumers the quality we’re known for. Rather than simply rolling (the movie) into a free offering, we thought we can test anything when you have your own platform. We’re trying to establish a new premiere access window to capture that investment we got (in the film). We’ll have a chance to learn from this. From our research under a premiere access offering, not only does it get us revenue from our original transaction of PVOD, but it’s a fairly large stimulus to sign up for Disney+.”
God knows this decision will be a crushing blow for those U.S. movie theaters planning to reopen and in need of a big title. However, no one knows how the big circuits reopening is going to look and perform. Also, New York and California have yet to give a full clearance for hard top cinemas to reopen. There was buzz that Disney could go this way with Mulan, but some believed that they were just waiting to see what went on with Tenet. Disney’s decision today to take Mulan straight into homes over Labor Day weekend makes the Universal-AMC deal window collapse deal look like child’s play in regards to creating future ‘revenue events’ out of these finished movies which are collecting dust on the shelf. No Mulan just means more screens for Tenet as more cinemas come back on line. stateside.
On July 23, Disney took Mulan off the calendar temporarily (its previous date being Aug. 21) as Warner Bros. was pausing their Tenet plans then. It was unfortunate timing by Disney as it was on the same day when AMC announced they’d be reopening slowly around the country by mid-August.
Chepak also mentioned today that global subscribers for Disney+ have reached 60.5M. Netflix recently announced that they’ve jumped their WW sub count to 193M.[/QUOTE]
https://deadline.com/2020/08/mulan-n...ll-1203003942/
New York (CNN Business)Disney's "Mulan" has been delayed multiple times, but audiences will finally be able to see the blockbuster. It just may not be in the theaters.
Disney announced on Tuesday that the remake of the 1998 animated classic will be heading to Disney+, the company's new streaming service, for an additional fee of $29.99. The film will be available on September 4.
Bob Chapek, Disney's CEO, said the pandemic has forced the company to think of "different approaches" to better serve consumers.
"We thought it was important to find alternative ways to bring this exceptional family friendly in a timely manner," he said on the earnings call.
The news of the release came as Disney released brutal quarterly results that showed the extent to which the company's media empire was ravaged by the coronavirus pandemic --a net loss of nearly $5 billion on Tuesday.
In addition to its whopping quarterly loss, Disney's parks business was hit particularly hard by COVID-19. Its parks and resort unit lost $3.5 billion in the quarter. The unit's revenue was down a whopping 85% from the year ago quarter.
Overall sales for the company fell 42% to $11.8 billion.
Chapek said that "Mulan" will be released simultaneously in theaters in markets where Disney+ is not available and, of course, where theaters are open.
While "Mulan" going to Disney+ is big news, it's yet to seen if the announcement will have huge ramifications for the theaters since Chapek called the film's release "a one off."
Overall sales for the company fell 42% to $11.8 billionOne bright spot was Disney+, Disney's new streaming service, which had nearly 60 million subscribers at the end of June, according to the company.
Disney announced on Tuesday that the remake of the 1998 animated classic will be heading to Disney+, the company's new streaming service, for an additional fee of $29.99. The film will be available on September 4.
Bob Chapek, Disney's CEO, said the pandemic has forced the company to think of "different approaches" to better serve consumers.
"We thought it was important to find alternative ways to bring this exceptional family friendly in a timely manner," he said on the earnings call.
The news of the release came as Disney released brutal quarterly results that showed the extent to which the company's media empire was ravaged by the coronavirus pandemic --a net loss of nearly $5 billion on Tuesday.
In addition to its whopping quarterly loss, Disney's parks business was hit particularly hard by COVID-19. Its parks and resort unit lost $3.5 billion in the quarter. The unit's revenue was down a whopping 85% from the year ago quarter.
Overall sales for the company fell 42% to $11.8 billion.
Chapek said that "Mulan" will be released simultaneously in theaters in markets where Disney+ is not available and, of course, where theaters are open.
While "Mulan" going to Disney+ is big news, it's yet to seen if the announcement will have huge ramifications for the theaters since Chapek called the film's release "a one off."
Overall sales for the company fell 42% to $11.8 billionOne bright spot was Disney+, Disney's new streaming service, which had nearly 60 million subscribers at the end of June, according to the company.
[quote]On Disney’s 3Q earnings call today, it was announced that Mulan is going to Disney+ on Sept. 4.
Specifically, Disney will be releasing the film theatrically in certain markets where the studio currently has no announced launch plans for Disney+ and where theaters are open (i.e. China). The concern with opening the film in some theaters in the world, and not others, was, of course, piracy-related.
CEO Bob Chepak said it was important to find new avenues of distribution during the pandemic and that “in the U.S., Canada, New Zealand, and number of countries, we will be offering on Disney+, the epic Mulan on a premiere access beginning Sept. 4, with the price point being $29.99 in the U.S.”
Chepak added during a round of questioning with financial analysts, “We’re pleased to bring Mulan to a consumer base that’s been waiting for it as we’ve had to move our (release) dates several times…We’re looking at Mulan as a one-off as opposed trying to say that there’s a new business windowing model.” What Disney will be keeping an eye on with Mulan is the uptick in subscribers as well as transactions generated on the service with that new price point. So, exhibition, don’t lose your hair yet: Disney isn’t planning to take Black Widow out of theaters this November (at least not yet).
In regard to pricing Mulan at the near $30 price, Chepak added, “as you know it’s fairly expensive to produce for consumers the quality we’re known for. Rather than simply rolling (the movie) into a free offering, we thought we can test anything when you have your own platform. We’re trying to establish a new premiere access window to capture that investment we got (in the film). We’ll have a chance to learn from this. From our research under a premiere access offering, not only does it get us revenue from our original transaction of PVOD, but it’s a fairly large stimulus to sign up for Disney+.”
God knows this decision will be a crushing blow for those U.S. movie theaters planning to reopen and in need of a big title. However, no one knows how the big circuits reopening is going to look and perform. Also, New York and California have yet to give a full clearance for hard top cinemas to reopen. There was buzz that Disney could go this way with Mulan, but some believed that they were just waiting to see what went on with Tenet. Disney’s decision today to take Mulan straight into homes over Labor Day weekend makes the Universal-AMC deal window collapse deal look like child’s play in regards to creating future ‘revenue events’ out of these finished movies which are collecting dust on the shelf. No Mulan just means more screens for Tenet as more cinemas come back on line. stateside.
On July 23, Disney took Mulan off the calendar temporarily (its previous date being Aug. 21) as Warner Bros. was pausing their Tenet plans then. It was unfortunate timing by Disney as it was on the same day when AMC announced they’d be reopening slowly around the country by mid-August.
Chepak also mentioned today that global subscribers for Disney+ have reached 60.5M. Netflix recently announced that they’ve jumped their WW sub count to 193M.[/QUOTE]
https://deadline.com/2020/08/mulan-n...ll-1203003942/
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