Disney Plans To Spend $5 Billion On Europe-Based Movies And TV Productions Over Next Five Years
Disney has committed to investing a minimum of $5 billion in productions across the United Kingdom and continental Europe over the next five years, according to the company’s European chief Jan Koeppen.
Disney’s latest quarterly results showed a boost in profits, thanks to smash box office hits like ‘Inside Out 2,’ which currently sits at $1.56 billion globally. Overall revenue for the quarter increased 4% to $23.16 billion.
Koeppen gave his comments about the longevity he believes the superhero genre still has (and more so, thanks to the likes of ‘Deadpool And Wolverine’): “[The genre] seems to have a lot of life left. We feel like we’re really on a roll again with movies, which is fantastic. I’ve been positive about people going to the movies again, and especially enjoying our movies.”
Disney have spent $3.5 billion in the UK for their productions for the past five years, and has become a key location for their projects. Famously, all of the Disney ‘Star Wars’ films have filmed at Disney’s UK studio.
Koeppen also touched on Disney+ and its appeal to wider audiences: “We are probably one of the fastest-growing media companies in [Europe, the Middle East and Africa]. We have been over the past few years, and we have a lot more growth ahead of us.”
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