Walt Disney is that company which is dominating entertainment industry from a very long time because of its smart business decisions. So far we have seen Disney in acquiring every big movie production house and turn into a successful venture. Now recent report shows that Disney has purchased 21st Century Fox studio also and that too for a whopping amount of $71.3 billion. The entertainment industry is rapidly changing; many people are like to see movies online, and Disney knows this factor for sure.
Because that’s the reason why it is planning to launch ESPN+ streaming service, also at the end of this year company is going to start Disney+ which is going to be another movie streaming platform which will have new star wars based movie series which reportedly going to be directed by creators of famous TV show Game of Thrones. Disney is trying to build its empire from last many years plus it knows that the future of cinema is online and that’s why it has now acquired Fox studio also.
Disney+ is going to have new Marvel characters based shows also the company is trying to use many of its intellectual property rights to make new films. So one thing is sure that Disney is going to be more powerful and stronger than anyone’s expectations. Currently, Netflix enjoys a near monopoly over movie streaming industry, but it seems like Disney will be able to give fierce competition to Netflix. There were many rumors regarding this news, but no one was sure for how much price Disney is going to acquire fox studio. Disney also owns Hulu which is another movie streaming platform so, in other words, Disney’s trying to build a monopoly in movie streaming industry. Disney movies have been commercial hit from last many years, and that’s why the company is recording a right amount of profit. It will be interesting to see how Netflix is now going to manage its content.
Jeffrey is acting editor in chief of AmazingNews24 with over seven years of experience in the field of online news under his belt. Jeffrey has worked with multiple media houses and is currently leading a team of journalists, sub-editors and writers through his entrepreneurial endeavours.