Disney Earnings Report Reveals Rare Loss; And What 'Mulan's' Disney+ Premiere Means For The Film Industry

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The Walt Disney Company reported yesterday a loss of four point seven billion dollars in its third quarter. It also announced a surprise for its streaming service. Disney, plus here's NPR's Mandalit del. Barco. In a call to investors Disney CEO BOB shape ticked off some of the challenges. The company has faced in the past quarter ongoing concerns over covid nineteen close down Disney theme parks and Resorts Retail Stores Cruise Sporting Events and TV and film production around the World One, hundred thousand Disney employees were furloughed impact of pandemic on people's lives are communities, businesses, and way. Of Life has been devastating but shape had told investors that Disney theme parks in Shanghai, and Florida have reopened with safety protocols in place, and he says the new streaming service Disney plus now have sixty point five million subscribers around the world, and that's the silver lining for Disney which announced a new movie set to premiere on the platform on September fourth. Loyal. Grace. took. My. Protect. Them family. Disney's live action version of Milan is skipping theatrical release which had been postponed several times since March instead, it will be available on Disney plus twenty nine dollars and ninety nine cents, Moulin and Christopher. Nolan's tenant had been seen as bellwethers for when movie theaters could safely reopen. So Disney's announcement comes as a blow to theater owners during the call Chip Beck addressed investors who wondered if this will usher in a new video on demand strategy for movie premieres, we're looking at Milan as a one off as opposed to trying to say there's some new business. Model that we're looking at still chip Beck says it will be interesting to learn how well Milan does on Disney plus he noted the Streaming Services Success in its recent showings of the musical Hamilton and beyond say's black king production

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