Walt Disney is planning to shut another 100 international TV channels over the next year as it takes advantage of the success of its streaming service Disney+.
30 channels were closed last year including the closure of Disney Channel in the UK; more recently local versions of Fox channel have also begun to shut. Local sports channels are also being closed in southeast Asia.
The timings of the closures will depend on contracts held with local operators.
“We closed 30 channels in Fiscal Year 2020 or in 2020. We plan to close 100 in 2021,” CEO Bob Chapek told the JPMorgan Chase & Co technology and media conference this week. “We will continue at a robust rate. We’ll continue to migrate to Disney+, the great majority of that content will migrate to Disney+.
Earlier this year, Disney added new entertainment content in Europe under the Star brand, which according to Chapek was being watched by the “majority” of subscribers.
Cricket coverage on the Hotstar service, available in India, has helped secure 30% of the 103.6 million global subscribers to Disney+.
