The decision is another blow to the cinemas that hoped the film would help bring viewers back to theaters. Disney, however, preferred Internet access after being forced to postpone the premiere of new films several times due to the spread of Corona, which led to the continued closure of US theaters – the world’s largest cinema market. Last year, Disney canceled the premiere scheduled for August 21, without specifying a new date.
The film will be available starting September 4 on the Disney Plus streaming service in the United States, Canada and Western Europe. Israelis who want to connect to the service from Israel can do so through the VPN services.
Despite the decision to release the film online, Disney CEO Bob Chapek described the change as “one-time” rather than a comprehensive strategic change. Disney unveiled the new plans along with the release of second-quarter results that included a $ 4.7 billion loss, a 42% drop Revenue imposed by the Corona even resulted in a $ 3.5 billion loss at the entertainment giant’s theme parks.
In a conversation with investors, Chapek noted the streaming service as one of the company’s few bright spots in the current situation that requires people to stay home. According to Chapek the service already has 60.5 million subscribers, just nine months since launch. “Despite the ongoing challenges posed by the epidemic, we continue to build on the huge success of Disney Plus,” said Chapek, who took over as CEO last February. However, the streaming service is still losing money. “We thought it was important to find alternative ways to bring the film This family is for viewers in the near future, “added Chapek regarding the new version of Moulin – the animated film originally screened in 1998. He added that the film will be screened in cinemas in markets where the streaming service is not available and cinemas have reopened.
Disney stock traded higher after the announcement, while movie chain shares fell. For example, Cinmark shares fell 4% and AMC shares fell 1.5%.