Multi-Billion Dollar Disney Spending Increase for 2022
In a report submitted yesterday by the Walt Disney Company to the SEC, the company said that it plans to increase spending for their streaming services and other programming to $33 billion over the next fiscal year. The increase represents an $8 billiion dollar hike compared to the previous fiscal year, which ended on Sept. 30th.
“The increase is driven by higher spend to support our DTC expansion and generally assumes no significant disruptions to production due to COVID-19,” the company stated in the report, according to an article written by The Hollywood Reporter.
During this fiscal year, The Walt Disney Co. solidifies a renewed programming deal with the NFL and begins a seven-year deal with the NHL.
“The visionary, first-of-its-kind agreement brings the NHL back to Disney and ESPN platforms and illustrates the unique position of The Walt Disney Company to bring the best hockey in the world to millions across its unparalleled collection of media platforms,” according to an NHL press release.
Programming Spending Spans Streaming, General Entertainment
“The company’s General Entertainment Content unit estimates it will produce some 60 unscripted series, 30 comedy series, 25 drama series, 15 docuseries and limited series, 10 animated series, five made-for-TV movies and numerous shorts and specials throughout the 2022 fiscal year,” according to a Variety article.
Disney General Entertainment Content includes ABC, Freeform, Fox 21, FX, Twentieth Century Fox Television as well as all of the Disney Channel networks and National Geographic partners.
With titles including “Book of Boba Fett,” “Andor,” “Miss Marvel,” “Disenchanted,” and “Hocus Pocus Two” coming soon to Disney+ and the theatrical release of “Spiderman: No Way Home” along with the theatre release yesterday of “Encanto,” we certainly can’t wait for all of the new programming coming from the Walt Disney Company.
Feature Image Credit: Variety Magazine