Hot ticket: Disney bets singer-songwriter Taylor Swift’s (pictured) huge popularity will boost subscriptions
Disney hopes to capitalize on Taylor Swift mania to boost its subscription service.
It has purchased exclusive streaming rights to the pop superstar’s Eras Tour concert film.
Amid tough competition from Netflix and Amazon Prime, he is under pressure from activist investors and is betting that the 34-year-old singer-songwriter’s huge popularity will boost subscriptions.
Swift’s film set a record for concert films, grossing more than £207 million worldwide.
Fans can watch it starting in March. Disney will invest 1.2 billion pounds in the video game studio Epic Games, creator of Fortnite. It said 1.3 million customers abandoned their subscriptions after a price increase in October.
But up to 6 million are expected to be recorded in the first quarter of 2024. Operating losses for streaming services were £171 million in the three months to the end of 2023.
Revenue across the business was £18.6bn for the quarter and net income was £1.7bn, up from £1.08bn. Shares rose 12.7 percent.