With Disney focusing more of its efforts on growing and maintaining its direct-to-consumer businesses, during today’s quarterly financial results investor call, Disney CEO Bob Chapek shared some details on how they are going to be spending much more money to create original programming for Disney+. With Disney increasing their investment in content with most of the additional funds going to create local and regional content.
The success of Disney+ since it launched as accelerated its content creation plans, but with delays caused by the pandemic, Disney+ won’t be fully operational in terms of releasing content regularly until later in 2022.
“In total, we are nearly doubling the amount of original content from the marquee brands Disney, Marvel, Pixar, Star Wars and National Geographic coming to Disney Plus in fiscal year 2022, with the majority of our highly anticipated titles arriving July through September. This represents the beginning of the surge of new content shared last December at our Investor Conference 2.0,”
One major focus for Disney+ is currently in various stages of development on over 340 original local for the streaming service. Which will be released on Disney+ by 2024. Recently during a APAC content showcase, Disney announced dozens of new shows being created across the Asia and Pacific region, plus we know Disney is heavily investing in new content in Latin America and Europe.
“As you know, we announced at our last Investor Day that we expect our total content expense to be between $8 and $9 billion in fiscal 2024, and we will now be increasing that investment further, with the primary driver being more local and regional content”
Disney recognises that local content is a major key in growing their streaming service internationally and with a plan to have Disney+ available in over 120 by the end of next year, we should probably expect this number to keep growing.
Hopefully, Disney will release the majority of this localised content in all countries, like many other streaming services do, such as Netflix. Which has recently had a huge success with the South Korean drama “Squid Game”, showing that there is an additional benefit of releasing content everywhere.
This coming Friday, Disney+ Day is taking place, where lots of new announcements will be made about future projects, so we should get a clearer idea of where some of this additional investment in content is going.
What are you looking forward to seeing next year on Disney+?