LOS ANGELES (US) – There will be a slew of new shows for streaming services of Walt Disney, said the firm adding that they include Marvel and Star Wars series. There will also be programming from the Kardashians for Hulu.
Apart from the announcement of new content, the company also disclosed its new business targets and programming costs of up to $16 billion in fiscal 2024. It is racing with US entertainment industry rivals to catch up to video streaming pioneer Netflix Inc. The firm hopes to woo at least 350 million subscribers across the world by the end of fiscal 2024, which is double the 137 million it has today. With fresh content coming in, Disney will also raise the price of Disney+ by $1 in the US and the new subscription rate will be $7.99 per month. In continental Europe, the price will be raised by 2 euros to 8.99 euros ($10.92).
The pandemic outbreak has sparked a home entertainment boom across the world and Disney wants to tap into this market. Launched less than a year ago, Disney+ has already hit 86.8 million subscribers.
“It is clear our strategy has already positioned us as a leading global streaming service provider, and that is within just one year of launching Disney+,” Disney Chief Financial Officer Christine McCarthy said.
The firm said it will release as many as 10 new television series each in the Marvel and Star Wars franchises as well as two spinoffs of “The Mandalorian,” in the next few years.
On the streaming services, there will be 15 live-action Disney Animation and Pixar shows and 15 Disney Animation and Pixar feature films.
There will also be new programming for Hulu and Star, which is a general entertainment service to be launched overseas in February.
This includes content from the hugely popular Kardashian family, which announced this year it was stopping its long-running reality show on NBCUniversal’s E! network.