Disney stock soars 14% to all-time high after company announced hitting 87M streaming subscribers and unveiled 'Netflix-killing' array of 100 new titles including Marvel shows and Star Wars spinoffs
Disney shares soared on Friday after the company announced its paid subscriber base for Disney+ has blown past analyst expectations, and revealed a dizzying lineup of new shows and movies in the pipeline.
Disney stock ended the session up 13.6 percent, at $175.72, an all-time high for the shares, following a slew of announcements about new content and revised growth projections.
The company announced that just a year after launching, its streaming service Disney+ has 87 million subscribers. Including Hulu and the ESPN+ sports streaming services, Disney currently has about 137million subscribers.
Disney said it expects its streaming services to hit 300 to 350 million total subscriptions by fiscal 2024. Netflix - the current frontrunner in what have been dubbed the 'streaming wars' - has nearly 200 million subscribers.
Disney shares soared on Friday after the company made a slew of content announcements
Disney also unveiled plans for ten new Star Wars spinoffs and another ten Marvel shows in a massive expansion of its streaming content as it aims to lure millions of new viewers to its subscription service Disney+.
The barrage of new announcements - with 100 new titles unveiled in all - also includes 15 new live-action, animated and Pixar series as Disney ramps up its efforts to outperform Netflix, HBO Max and Amazon Prime in the streaming world.
With Covid-19 shutting cinemas and making people desperate for entertainment at home, the TV and movie industry is banking on streaming, with Warner Bros announcing last week that all of its 2021 films would debut on HBO Max.
Meanwhile, cinema chains including AMC, Cineworld and Cinemark have been left disgruntled by the straight-to-the-small-screen plans which threaten to bring about the death of the movie theater.
Disney's latest Star Wars offerings include two more series based on The Mandalorian, a hit series featuring the character popularly known as Baby Yoda, as well as a return for divisive prequel star Hayden Christensen in a series about Obi-Wan Kenobi.
The Kardashian-Jenner family has also signed a deal with Disney-owned Hulu, while films including Pinocchio and Disenchanted will premiere on the streaming service - which will see a one-dollar price rise to $7.99 per month.
Disney also has a string of theatrical plans including a Buzz Lightyear prequel; a Black Panther sequel in which the late Chadwick Boseman's character will not be recast; and a new Indiana Jones film in which Harrison Ford, 78, will reprise the role.
Fan favorite: The character popularly known as Baby Yoda in a scene from The Mandalorian, which is getting two new spinoff shows in Disney's barrage of streaming announcements
Comeback: Hayden Christensen as Anakin Skywalker-turned-Darth Vader in 2005's Revenge of the Sith - a role he will reprise in a new Obi-Wan Kenobi spinoff
Returning: Longstanding Star Wars characters R2D2 and C3PO, pictured in the original Star Wars movie in 1977, are part of the Disney announcements
Disney's big gamble: Highlights of the 100 titles in production
STAR WARS
10 series in total
Obi-Wan Kenobi series featuring Ewan McGregor and Hayden Christensen
Two Mandalorian spinoff series: Ahsoka and Rangers of the New Republic
Lando Calrissian TV series
Rogue One spinoff called Andor
A 2023 cinematic film called Rogue Squadron
MARVEL
10 series in total
Samuel L. Jackson series Secret Invasion
Ironheart with Dominique Thorne as a genius inventor
Thor: Love and Thunder starring Christian Bale
Black Panther 2, with Chadwick Boseman's role not recast
DISNEY+ MOVIES
15 Disney and Pixar movies in total and another 15 series
Pinocchio starring Tom Hanks
Enchanted sequel starring Amy Adams, titled Disenchanted
Peter Pan & Wendy starring Jude Law
THEATRICAL RELEASES
New Indiana Jones movie with a returning Harrison Ford
Lightyear, with Chris Evans voicing the man behind the Toy Story character
HULU
Handmaid's Tale renewed for a fifth season
Adaptation of the sci-fi horror classic Alien
New Kardashian-Jenner content beginning in 2021
Production on the Kenobi series will start in March, featuring Christensen's return as Anakin Skywalker-turned-Darth Vader in what Disney described 'the rematch of the century' with the Jedi master he battled in 2005's Revenge of the Sith.
Actor and singer Donald Glover will reprise his role as dashing smuggler Lando Calrissian, a favourite of the original Star Wars films, for for the TV series Lando.
Animated Star Wars offerings coming to Disney+ in the next few years include A Droid Story' featuring the beloved C-3PO and R2D2, and The Bad Batch about experimental clones.
A Star Wars mystery thriller called The Acolyte, directed by Russian Doll co-creator Leslye Headland', is also part of Disney's new package.
The two Mandalorian spinoffs will be entitled Ahsoka and Rangers of the New Republic.
Also in the Star Wars universe, a previously announced spinoff of the 2016 movie Rogue One, titled Andor, has just begun production in London.
Stellan Skarsgard and Fiona Shaw join the cast of the 'tense, nailbiting spy thriller' created by Bourne Identity screenwriter Tony Gilroy.
Rogue One was one of two spinoffs, along with Solo, which came alongside the Star Wars sequel trilogy - The Force Awakens, The Last Jedi and The Rise of Skywalker - which Disney produced after buying out the franchise.
Star Wars will also return to cinemas with a 2023 movie called Rogue Squadron, set in a 'future era of the galaxy' to the nine movies in the main franchise.
Wonder Woman director Patty Jenkins will direct Rogue Squadron, making her the first female director of a Star Wars movie.
The film will 'introduce a new generation of starfighter pilots as they earn their wings and risk their lives in a boundary-pushing, high-speed thrill ride,' Lucasfilm said.
Rogue Squadron is one of several films which are continuing with theatrical plans despite Disney's latest streaming drive.
These include a Black Panther sequel, in which the role of the late Chadwick Boseman will not be recast, and a Buzz Lightyear prequel due in 2022 starring Chris Evans as the voice of the popular Toy Story character.
Boseman died in August after a four-year battle with colon cancer, having never publicly discussed his condition, throwing the follow-up to one of the record-breaking Marvel films' most acclaimed movies into doubt.
But a planned sequel to the 2018 smash hit will still go ahead using 'all of the rich and varied characters introduced in the first film.'
Harrison Ford, 78, is set to reprise the role of Indiana Jones in a 2022 film - 41 years after he starred in Raiders of the Lost Ark
First look: Marvel Entertainment released the exclusive first look at upcoming Disney+ series The Falcon And The Winter Soldier starring Sebastian Stan and Anthony Mackie
A Black Panther sequel will go ahead - but the role of Chadwick Boseman , who died in August 2020, will not be recast
Among other Marvel film announcements, Christian Bale joins Thor: Love and Thunder as the sequel's villain, with filming due to start next month.
As part of the barrage of announcements, Marvel released the exclusive first look at upcoming Disney+ series The Falcon And The Winter Soldier, starring Sebastian Stan and Anthony Mackie.
Samuel L Jackson reprises his role in the franchise for Secret Invasion on Disney+ , hyped as 'arguably the biggest crossover comic event in the last 20 years.'
Other upcoming movies which have been steered into the streaming service include Pinocchio with Tom Hanks and an Enchanted sequel with Amy Adams.
The Disney-owned Hulu will also be home to more original films and will become the new home of the Kardashians, recently departed from E!.
The streaming service also renewed The Handmaid's Tale for a fifth season.
Regardless of where Disney content premieres, it will end up on Disney+, according to media and entertainment division chief Kareem Daniel.
A Buzz Lightyear prequel revealing the backstory of the man behind the Toy Story character is also on Disney's agenda
The Kardashian-Jenner family signed a deal with Disney-owned Hulu, making it their new home after their departure from E!
Renewed: The Handmaid's Tale, starring Elisabeth Moss , is back for a fifth season
Hollywood had been eagerly awaiting Disney's response following WarnerMedia's announcement last week that it will release all 17 of its 2021 films simultaneously on its streaming platform, HBO Max, and in theatres.
Stocks for WarnerMedia's parent company AT&T were up about six per cent since the announcement.
AT&T boss John Stankey said on Tuesday that the pandemic had unleashed a new media reality unlikely to fade after COVID-19. 'That horse left the barn,' he said.
Disney boss Bob Chapek laid out the company's own super-sized ambitions in a virtual presentation for investors on Thursday.
Chapek said Disney+ subscribers worldwide have reached nearly 87million, up from 74million last month, but it is aiming for up to 260million subscribers by 2024.
Disney will increase the monthly price of the streaming service by one dollar to $8 (£6) a month in March.
''We knew this one-of-a-kind service featuring content only Disney can create would resonate with consumers and stand out in the marketplace,' Chapek said.
Disney's's films accounted for more than $13billion in ticket sales worldwide last year and 38 per cent of moviegoing in the US and Canada. Seven Disney films topped $1billion worldwide.
'Of the 100 new titles announced today, 80 per cent of them will go to Disney+,' said Chapek. 'But we had $13 billion of box office last year and that's obviously not something to sneeze at. For us it's about balance.'