Disney to Release New Broadcast Service in 2021

Disney is launching a new international general entertainment streaming service in markets with Disney+ in 2021 under the Star brand.

Disney+ launched in November of last year. The company previously announced in April that the service had passed 50 million subscribers. Those numbers include subscribers acquired through bundling with Hotstar in India, as well as free subscribers through a promotion with TechCrunch’s parent company Verizon.

According to CEO, the revenue for its direct-to-consumer and international pision increased 2% year-over-year, to $4.0 billion, while the unit’s operating loss grew from $562 million to $706 million.

Noteworthy, Disney fans in the Middle East and North Africa rejoice as Walt Disney Co’s Disney+ content is set to be available on direct-broadcast satellite provider serving OSN for the first time, started from April 9.

Disney+ original shows, including “The Mandalorian”, will be available on OSN’s online streaming services in 17 regional markets, including Egypt, Lebanon, Saudi Arabia, and the UAE at the cost of $9.50 a month

On other hand, the coronavirus pandemic has also forced the satellite provider to market the launch of plus content entirely online and to abandon its traditional outdoor advertising plans as people seldom leave their homes.  The firm reported that about 8 million of these accounts came from India.

The service launched around the world features a wide library, including Pixar and Marval content to more than 12 countries since its initial launch last November.

The firm’s share price rose by 6.7% after achieving these multiplying subscriber numbers at $ 107.81.

The Disney+ user base is now about 30% of the nearly 167 million Netflix members worldwide, according to reports at the end of last year.

It also beat Disney-controlled Hulu, which was launched in 2007 and had 30.7 million paid subscribers as of early February. Analysts attributed the surge in the number of paid subscriptions to the measures of the current lockdown and quarantine adopted by many countries to combat the spread of the novel coronavirus.

On the other hand, the company said in a statement last week that it would expel unnecessary jobs starting April 19, and chief executive Bob Egger has given up his salary due to the crisis caused by deadly virus.

It is noteworthy that the US entertainment company had previously expected the number of subscriptions to reach 60-90 million by 2024.