Disney is reportedly set to majorly increase their content spending for the 2022 fiscal calendar year which began on October 1st.
In a new annual report filed with the SEC this week, it has been revealed that including streaming programming, linear programming, and sports content, the Mouse House will spend approximately $33 billion.
That is an increase of $8 billion on fiscal 2021 during which $25 billion was spent. The increase is said to be driven by plans for more spending to expand their direct-to-consumer streaming services like Disney+, Hulu and ESPN+ rather than big spending increases on either cinema releases or cable/broadcast ventures.
That amount also “generally assumes no significant disruptions to production due to COVID-19” according to the company. Disney’s Studios division also reportedly plans to release around 50 features for theatrical release and on its direct-to-consumer platforms during the fiscal year.
Meanwhile, its General Entertainment division plans to produce or commission 60 unscripted series, 30 comedy series, 25 drama series, 15 docuseries/limited series, 10 animated series and 5 made for TV movies in that time as well.
Sounds like a lot but that is across the entire portfolio of brands including Marvel Studios, Disney Pictures, LucasFilm, Pixar, 20th Century Studios, Searchlight, ABC, Disney TV, National Geographic and FX Productions.
The content spending war is only set to increase as well. When the Discovery & WarnerMedia merger is done, the joint venture is expected to spend at least $20 billion on content in its first year. Netflix, which is one single contained SVOD service, spent nearly $14 billion on content this year.
Source: THR
