Disney changes focus to concentrate on streaming

With the overwhelming success of Disney+ combined with lackluster box office results across the industry (not to mention the inability to even release movies theatrically during certain times), Disney has announced its plans to place a higher priority on streaming.

“We are strategically positioning our Company to more effectively support our growth strategy and increase shareholder value,” Bob Chapek, Disney’s CEO, said in a statement. “Managing content creation distinct from distribution will allow us to be more effective and nimble in making the content consumers want most, delivered in the way they prefer to consume it.” This is all corporate talk that translates to: “We aren’t making any money with theatrical releases so we’re moving everything online”.

While it’s definitely the right call, post-vaccine life is inching its way closer and closer so it begs the question of why it took this long to change focus. Matching this new shift, Disney recently announced their newest film Soul will be joining the likes of Artemis Fowl and Mulan by releasing straight to Disney+.

Featured image courtesy of Business Insider via businessinsider.com