In the first three months since becoming the new owner of Fox, Disney has publicly complained about Fox’s weak performance and believes there is more trouble on the horizon.
Last week, Disney and Comcast came to terms whereby Disney would take sole control over Hulu. Comcast will remain a silent partner until 2024
The long-awaited buyout of Fox by Disney, which was announced in December 2017, is officially scheduled to close March 20th.
The Hulu streaming service reached more than 25 million subscribers at the end of 2018. On a year-over-year basis Hulu subscriber growth rose 48%.
As media markets reach a consolidation fever pitch, three companies will emerge controlling nearly all content creation and distribution in the United States.
Netflix’s $8 billion production allocation for 2018 to produce and acquire 700 shows and films is already reaping record new subscribers.
Netflix is slated to spend $8 billion on original and acquired content in 2018. The company is taking bold action to stay ahead of growing competition.
Television advertising sales in the U.S fell 8% to $61 billion in 2017 – the biggest slump in 20 years. Sales at cable networks dropped for the first time in a decade.
Netflix plans to release 80 films in 2018; nearly as many as all six major studios combined.
In 2017, North American theatrical admissions fell to 1992 levels. Admissions in the U.S and Canada dropped 6% to 1.23 billion tickets sold.