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Disney to launch its own streaming service by the end of this year

Mickey Mouse of Disney

Disney is a brand which is in almost every house around the world. It is the world’s largest media conglomerate in terms of revenue and has an influence over the entire world. The company is almost a century old and is one of the oldest media companies in the world. It produces its own content and is trying to cope up with the OTT platforms like Netflix. The rise of such platforms has caused a lot of trouble for the company.

However, the company’s major revenue comes from Disney Land. The theme park is the largest in the world and the most profitable when it comes to theme parks. It is a dream for some people to visit Disney Land in their lifetime and that tells us about the brand Disney is and the influence it has on people. The company uses its name to the fullest as the marketing strategy for it is to just put their name forward.

That said, the company has invested a huge sum of money in building two Star Wars-themed lands in its biggest theme parks. The company has spent over $1 billion to build these lands and this is where people would be able to ride on a Millennium Falcon and make their dreams come true. This is huge for all the Star Wars fans and they could just flood the gates when it opens. This is where the marketing strategy of the company could be speculated. They don’t need to have one. CEO of Disney, Bob Iger said that people would just show up the moment he tweets that the two lands are opened.

This is one example of brand-marketing and it is one of the most premium examples of it. Every movie becomes special when the Disney logo pops up at the beginning. The brand name matters a lot and it takes a century to create such euphoria around a single name. It was Walt Disney who started the entire thing with Mickey Mouse and now looks at the stature of the company.

Disney’s revenue stands at $59.4 billion while its operating income is $15.7 billion while its net income is $12.5 billion. There are over 200 thousand employees at Disney and it has become an empire on which the sun will never set. The theme parks are also a gift from Disney to this world. It is a place where we see people happy and smiling. Disney might not be the world’s biggest company but it surely is one of the world’s biggest influencers.

However, this is where their investments stop. That is because of the increase in the number of people preferring OTT platforms over going to the theatre. Its major source of income has come down to the theme parks. That said, the company has forayed into the streaming business, it has launched ESPN+ last year in the month of April. It has now 2 million paid subscribers. The company is also launching its own streaming services by the name of Disney+. The company plans to stream all its Disney movies and TV shows later this year. The company is also going to buy a majority stake in Hulu.

-Unmesh Phule

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