The outrage over Disney's big Mulan decision

Andrew Cummings
August 6, 2020

The highly anticipated live-action remake of their animated classic was left out of the latest release announcements, leaving many to wonder exactly what Disney had planned for this expensive film.

However, Chapek also said it would interesting to see how sales of the film on Disney's platform turn out.

Then shortly after the earnings conference call kicked off, the stock jumped 5% after Disney CEO Bob Chapek announced that as of August 3, Disney+ had 60.5 million subscribers, up from 54.5 million in the beginning of May.

It was one of a handful of major tentpole Hollywood releases expected to help drive wary consumers back to movie theatres.

Disney lost $4.7bn (£3.6bn) in the three months to 27 June, as the virus forced it to close theme parks and delay film releases and production.

But while Warner moving forward with a theatrical release plan, which involves opening Tenet internationally first and then in select US theatres a week later, on September 3, Disney chose to pivot and direct consumers to its streaming service.

Walt Disney Co's DIS.N live-action epic "Mulan" will skip most of the world's movie theaters and go directly to the company's streaming platform in September, the media giant said on Tuesday. The company reported that it had a net loss of almost $5 billion in the third quarter this year.

In the same earnings call, Chapek announced the company's plans to expand Disney+Hotstar to Indonesia.

Last November, it launched the Disney+ streaming service in the USA, later expanding into other markets, including the UK. During the annual meeting of Disney, they announced that by the mid of 2020, Disney hit 60.5 million users across the planet. Disney's decision to release "Mulan" online follows a deal announced last month between Comcast's Universal Pictures and AMC Entertainment Holdings Inc., the largest US cinema owner. In case you didn't know already, Disney owns all of them. Are investors going to just overlook the fact that Disney's most lucrative segments got crushed as a result of the global pandemic, and a real recovery could take a while? Some have been allowed to reopen, however many are still closed off.

The CEO added that Disney+'s growth "clearly demonstrates the value of our content", and that the launch of a Star-branded streaming service is "further extending the value of that content internationally".

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