In a speech at JPMorgan’s annual global conference, technology, media and telecommunications this week, the CEO revealed: Walt Disney Company, Plans to close more channels after the channels in the UK, Australia and New Zealand were closed recently. More will follow in October in Southeast Asia and Hong Kong.
According to Chabic, deciding which channels and when they will be closed depends on the connections Disney makes in the individual markets and the commitments that remain to be adhered to.
Disney + is a top priority
The company has made it very clear that it is their streaming service Disney + is the priority right now. The media giant pulled its content from Sky and Virgin Media channels in the UK last year in preparation for the launch of the broadcast device.
Fox, Fox Crime, Fox Life and FX are among the channels set to go offline in Southeast Asia and Hong Kong later this year, less than three years after Disney acquired them through the purchase of 21st Century Fox.
According to local reports, children’s channels Disney Junior and Disney Channel, as well as Nat Geo People and SCM Legend, a channel that shows Chinese movies to the public, will also be canceled. Moreover, Fox Action Movies, Fox Family Movies, Fox Movies, and Star Movies China will also be resolved. There are also plans to shut down five sports channels, including the popular Fox Sports channels in Southeast Asia, which show football, motorsports, rugby and some American sports.
However, Disney’s latest results for the second quarter indicate that the 2020 SVOD boom has tapered off as Disney + missed analyst expectations for new subscribers in the second quarter of 2021. However, the live streaming service still ends the reporting period with 103.6 million subscribers, an increase. 33.5 million year on year. However, the total was well below expectations of 109.3 million.
In order to expand its offerings further, Disney signed an expanded multi-year contract with Sony Pictures Entertainment last month, through which it acquired the broadcast rights and US written rights to shoot films such asSpider Man“Receive.