'Mulan' to skip theaters and premiere on Disney+ in September

Disney to Launch New Star Branded Streaming Service in 2021

It's going to cost $30 in the United States for permanent access to the film, which will be yours for as long as you're a Disney+ subscriber.

The company's theme parks revenue fell 85% and incurred a loss of $3.5 billion but Disney+ gained 57.5 million paid subscribers as of the end of June.

The CEO added that Disney+'s growth "clearly demonstrates the value of our content", and that the launch of a Star-branded streaming service is "further extending the value of that content internationally".

"We want to mirror the successful Disney+ strategy by using our Disney+ technical platform, rooting it in content that we already own, and distributing it under a successful global brand that we also already own, which is, of course, Star, and then bringing it to market in a very close association to Disney", Chapek added on the quarterly earnings call.

It will offer material from the wider Disney empire, which includes broadcaster ABC, 20th Century Films and SearchLight Pictures.

Disney's decision to release its Mulan remake on its streaming platform has been strongly criticised by the body representing British cinemas. As a result, theaters are going to have to accept that people might want to watch new blockbusters at home instead of venturing into somewhere they risk catching a potentially deadly virus.

"We're pleased to bring Mulan to a consumer base that's been waiting for it as we've had to move our (release) dates several times", Chapek said.

Where Disney+ is not available, the film will be released in cinemas.

Most recently, it was set to open on 21 August and cinema operators had hoped it would help spark a late-summer rebound for film revenues.

"It must continue to aggressively promote its growing suite of video streaming services given the competitive nature of this market". That part of the business recorded a roughly $700bn operating loss in the quarter.

"We're looking at Mulan as a one-off, as opposed to saying there's some new business windowing model that we're looking at". More information will be revealed at an upcoming Disney investors day.



Other news