On October 20, Netflix threw down the gauntlet to Disney, showing its arch rival what it really means to a be a streaming-first company.
During its third quarter earnings release, Netflix announced that it was doubling down on content, planning to release more shows in 2021 than any previous year in its history.
The news comes just a week after Disney announced a major reorganization that will see the company centralize its media businesses around streaming—namely, Disney Plus—as it attempts to offset the devastating effects of COVID-19 on its theatrical and theme-park business. The pandemic has forced the company to push major releases slated for movie theaters into the new year and some, like Hamilton and Mulan, onto its streaming platform. Disney’s theme parks have also been hit hard by the pandemic, leading to 28,000 employees recently being laid off.
But as Disney reverses course and gears itself around Disney Plus, with a likely expansion of streaming’s original content…
Read More…
Source : fastcompany.com
Source link
