The Walt Disney Company has announced an $8-9 billion budget for Disney+ content until 2024.
That $8-9 billion budget is for Disney+ content alone, with the company expecting to spend $14-16 billion across Disney+, Hulu and ESPN Plus streaming content overall, Variety reports. In a four-hour long investor day presentation, Disney CEO Bob Chapek announced a massive programming rollout for the next four years with projections of nearly 30 new series and original features in an effort towards streaming supremacy.
These plans include more stories for fans of the Star Wars and Marvel franchises along with new Pixar projects. The announcement came with the news that Disney+ has reached a whopping 86 million subscribers, gaining a staggering 12 million subscribers in the past month. Despite analysts' measurements, the company plans to reach 250 million subscribers in the next four years.
Chapek's plans to grow the streaming service include meeting a goal of 100 new streaming titles each year -- 63 series and 42 films -- over the next four years. The company's streaming service once deemed only for children's media, hopes to serve broader appeal with upcoming content. The presentation also answered questions surrounding the releases of upcoming films with the company choosing to release most films direct-to-streaming while other larger franchise releases will be available at cinemas nationwide.
Disney+ is priced at $6.99/month and is available in 30 territories. Plans include bundles with Hulu and ESPN+ for $13/month.
Source: Variety