Disney To Focus On Streaming Platforms
DISNEY TO OVERHAUL ITS ENTERTAINMENT BUSINESS WITH FOCUS ON STREAMING
(CNN) – Disney makes a major overhaul.
The entertainment conglomerate announces it plans to put more focus on Disney+.
Disney investor Trip Miller says these changes will produce “higher quality content.”
Miller adds this move will allow Disney to possibly recoup revenue that was lost in its other divisions.
The coronavirus pandemic hurt Disney’s profits in 2020 by postponing films and productions.
COVID-19 also shut down Disney parks and resorts for a large portion for much of this year.
Hours after the announcement about streaming, Disney’s stocks rose roughly 5%.