by 👨💻 Adam Yardley
Disney has announced that it has experienced its most successful year financially on record, along with news that they are to push ahead with plans for digital streaming and for an all-new live action Star Wars TV series. The news comes as stories reverberate surrounding the future of the franchise, after the relative losses experienced by Solo and after split critical reception surrounding The Last Jedi.
Star Wars aside, Disney has Marvel, Pixar and its own efforts to thank for its remarkable financial success in 2018. The BBC reports that the firm generated profits of almost $12.6 billion on top of $59.5 billion in total revenue, which was in fact bolstered by the brand’s studio earnings in the last quarter alone. Big box office smashes this year such as Avengers: Infinity War, Black Panther, Incredibles 2 and Ant-Man and the Wasp have all contributed to the firm’s colossal success, following barnstorming takings in 2016 and 2017.
Disney shares skyrocket on earnings [video]
Disney is now reportedly focusing on expanding its streaming output, with a brand new Star Wars TV line being optioned to lead the way. Certainly, with the brand already conquering the big screen, it makes logical sense for executives to want to earn a slice of the home streaming pie, too.
“We’re looking at the marketplace, we’re seeing disruption and we’re reacting to it, hopefully on a timely basis so we can take advantage of the trends,” Disney Chief Executive Robert Iger confirmed eagerly, indicating that Disney will be looking to step up against the likes of Netflix on the home stage. Disney’s successful acquisition of 21st Century Fox’s entertainment output earlier this year won’t simply mean more Marvel characters to add to the cinematic universe – it will mean that once the deal is fully completed, they will have an even bigger roster of TV shows and movies to work with. Huge franchises and brands such as National Geographic’s documentary output and animated series such as The Simpsons could be used to the brand’s advantage in years to come.
Disney Shares Jump After Record Profit [video]
Star Wars, however, remains something of a mystery, at least as far as the future is concerned – while the news that a further prequel series will be heading to our screens is promising, the movie strategy appears to remain a little unsure. Plans for more spin-offs appear to have been downplayed – will we see them again?