For the fiscal year 2022, which begins on Oct. 1, the Walt Disney Company aims to increase its overall content spending to $33 billion. The company’s annual report, which was submitted with the Securities and Exchange Commission on Wednesday, contained details about the previous year and its outlook for the coming year.
The $33 billion amount is an increase of almost $8 billion over the company’s fiscal 2021 budget, which was reported to be $25 billion.
Disney’s desire to grow its reach on streaming services like Disney Plus, Hulu, and ESPN Plus, rather than through the company’s linear television and film operations, is driving the increase. Sports rights and other material for ESPN, ESPN Plus, and other platforms are included in the $33 billion total.
The large spending strategy demonstrates Disney’s commitment to direct-to-consumer content, with the company increasing its streaming investment with a feeling of urgency.
During the fiscal year, Disney aims to release around 50 titles for theatrical and streaming distribution, according to the annual report. Films and episodic television programmes are both included.
The company also states that due to the spread of COVID-19, productions may be interrupted, which could affect its tight release schedule. Walt Disney Pictures, Twentieth Century Studios, Marvel, Lucasfilm, Pixar, and Searchlight Pictures are among Disney’s motion picture studios.
Disney is ramping up content development and commissions across the board to feed Disney Plus, Hulu, and other channels as the corporation turns its focus to direct-to-consumer economic models. During the fiscal year 2022, the company’s General Entertainment Content segment expects to produce 60 unscripted series, 30 comedy series, 25 drama series, 15 docuseries and limited series, 10 animated series, five made-for-TV movies, and a slew of shorts and specials.