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Categories: Entertainment

Walt Disney Co. expects new Streaming service Disney+ to become Profitable by 2024

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8 months ago

Disney revealed details of its branded direct-to-consumer streaming service Disney+ on Thursday during an investor presentation. It is expected to launch on November 12. Subscription pricing has been set at $6.99 per month or $69.99 per year.

The Disney+ homepage looks very similar to the Netflix homepage. Brands including Disney, Pixar, Marvel, Star Wars and National Geographic each get their own dedicated tiles on the homepage. Below those brand, tiles are rows for recommended and continue watching. The menu bar will feature a dedicated button for Disney+ original series and films, many of which will be available at launch. All content on Disney+ will be available to download for offline viewing on mobile.

Disney+ will be available on Amazon Fire TV, Apple TV and Google Chromecast connected devices along with smart TVs, game consoles, PCs, web platforms, and Android and iOS devices.

Disney will also invest $1 billion in original content into Disney+ in 2020, said CFO Christine McCarthy. That number will increase to “mid $2 billion” by 2024, added McCarthy. Disney+ expect to gain profit and have 60 to 90 million subscribers by 2024, with two-thirds of them coming outside the U.S.

The first original will be “The Mandalorian,” the live-action “Star Wars” series helmed by Jon Favreau. Other series include a “Rogue One” prequel and a “Monsters, Inc.” sequel.

Additionally, Marvel Studios is developing four different series centred around characters from the Marvel Cinematic Universe. “Loki” with Tom Hiddleston, “WandaVision” with Scarlet Witch (Elizabeth Olsen) and Vision (Paul Bettany), and “Falcon & Winter Soldier” with Falcon (Anthony Mackie) and Bucky Barnes/Winter Soldier. (Sebastian Stan). Marvel Studios is also developing a Hawkeye series starring Jeremy Renner.

Shubhashish Saha

Shubhashish Saha is an undergraduate student, currently studying civil engineering from National Institute of Technology, Rourkela. Apart from being a freelance writer, Shubhashish loves watching movies. He also likes playing football and is a huge FC Barcelona fan. Follow him on LinkedIn and Facebook.