The Walt Disney DIS recently reshuffled its upcoming movie release slate and announced that its upcoming movies - Cruella and Black Widow – will be launched simultaneously in theaters and Disney+.
Markedly, while Cruella is set to release on May 28, highly anticipated Marvel Studios’ Black Widow is now set to release on Jul 9. These movies will be simultaneously available to Disney+ users with Premier Access.
Moreover, Disney and Pixar’s Luca will stream directly on Disney+, beginning Jun 18. In markets where Disney+ is not available, the movie will be released in theaters.
Other movies set to release include Free Guy (Aug 13), Shang Chi and the Legend of the Ten Rings (Sep 3), The King’s Man (Dec 22), Deep Water (Jan 14, 2022) and Death on the Nile (Feb 11, 2022).
The Walt Disney Company Price and Consensus
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Disney+ to Aid Top-Line Growth
Markedly, Disney is now following AT&T’s T footprint. AT&T’s Warner Bros. announced in December last year that all of its films scheduled to launch in 2021 will be released on HBO Max simultaneously with the theaters.
Markedly, Disney got 15 Academy Award nominations, including three for the animated movie Soul on the Disney+. Nomadland, which is streaming on Hulu, was also nominated for best picture.
Disney has been focusing on its direct-to-consumer business that comprises of Disney+, ESPN+ and Hulu (forms Disney bundle) to tackle disruptions caused by the coronavirus pandemic in its movie production, theme parks and cruise businesses.
Disney+ has already gained significant traction by garnering more than 100 million paying subscribers within a short span of 16 months (since its launch in November 2020) despite stiff competition from the likes of Netflix NFLX and Amazon AMZN Prime Video, driven by strong content portfolio.
In fact, Disney now expects to see between 230 million and 260 million subscribers on Disney+ by 2024, which basically triples its prior guidance of reaching between 60 million and 90 million subscribers by 2024.
Disney plans to spend $14-$16 billion in global direct-to-consumer content expenses across Disney+, Hulu and ESPN+ in fiscal 2024 as it ramps up original series and films. This Zacks Rank #3 (Hold) company plans to release 100 new titles per year that include 10 Marvel series, 10 Star Wars series, and 15 Disney live-action, Disney Animation and Pixar series along with an equal number of films, each. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Moreover, Disney is set to reopen its two California theme parks on Apr 30. The parks will follow the opening of Disney’s Grand Californian Hotel and Spa (Apr 29). Moreover, on May 2, the Vacation Club Villa at the Grand Californian will reopen. Further, Disney’s Paradise Pier Hotel and the Disneyland Hotel will reopen at a later date.
The reopening is expected to boost Parks, Experiences and Products segment’s top-line growth in the second half of fiscal 2021.
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