Walt Disney Co. on Thursday reported better-than-expected quarterly results, fueled by the release of blockbuster films “Aladdin” and “The Lion King” as it prepared for its new streaming television service.
“We’ve spent the last few years completely transforming The Walt Disney Company to focus the resources and immense creativity across the entire company on delivering an extraordinary direct-to-consumer experience,” said Disney chief executive Robert Iger.Iger said the company reached a deal for the service to be on Amazon’s Fire TV platform, the latest distribution agreement for Disney+.
It will thereafter take a “hiatus” from “Star Wars” box office films but has an array of spin-off shows planned exclusively for its streaming service. Disney saw smaller revenue gains in its cable and broadcasting operations as well as its theme park division. Its films and TV shows will be available, along with the library it acquired from 21st Century Fox. That includes the “Star Wars” and Marvel superhero franchises and ABC television content.
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