The famous Walt Disney Company plans to close 100 international TV channels this year. This is because it is known that the company that decided to emphasize streaming services like Disney + will focus entirely on the future. Speaking at JPMorgan Chase & Co.’s technology and media conference on Monday, Walt Disney’s chief executive officer Bob Chapek said the company was closing in addition to the 30 foreign networks it shut down last year.
“Most of that content migrates to Disney +”. “We are going to turn to the direct customer, which continues to be our main strategy.” Said Chapek.
The refining of the company’s networks was carried out last year in the UK. Disney Channel. This is part of Chapek’s efforts to streamline and modernize the entertainment giant. This year, the company added more content for adults to its Disney + offering in Europe using the Star brand. Chapek said most Disney + customers in the area have started to watch star programming.
Disney launched Disney + Hotstar in India last year. That service, which includes cricket matches and other local content, accounts for about a quarter of Disney +’s total subscriber base globally. There are 30. Globally 103.6 million are subscribers to Disney +. In April, Disney announced plans to close several of its sports networks in South East Asia and Hong Kong.
The closure will depend on contracts the company has in individual markets, Chapek said Monday. Some of Disney’s traditional TV networks benefit from paying for streaming programming on its streaming services, including Hulu and ESPN + in the US.
But consumers are increasingly choosing to watch content online and Disney wants to stay ahead of the trend, Chapek said. “We don’t want to be behind that wave”. “We want to be on the front end of that wave.” Bob Chapek, chief executive officer of Walt Disney, said.
