Disney Will Spend $33B on New Content In 2022, $8B More Than 2021
Disney announces in its annual report that it will spend $33 billion to create new content for 2022. With strong theatrical releases and a flourishing streaming service, the media giant is undoubtedly at the forefront of modern content creation. Disney media is made up of three main content groups: studios and general entertainment. Walt Disney Pictures, Walt Disney Animation Studios, and Pixar are all part of the Disney Studios umbrella. Also, LucasFilm 20 Century Studios and Marvel Studios are included. Searchlight Pictures is also part of the Disney Studios umbrella. Disney’s entertainment networks include FX Networks and Disney Channel and Hulu, Disney Channel, Disney Channel, and FX Networks. ESPN is their sole sports network.
Since Disney’s direct-to-consumer streaming model was established, the Mouse has been almost unstoppable. In January, CEO Bob Chapek revealed Disney’s goal to release more than 100 titles within the next year. The company held its first Disney+ Day to celebrate its second anniversary. It featured announcements and updates on many of the company’s upcoming projects. These included information about release dates for previously announced movies, shows, and a variety of planned new movies and shows.
Disney released their annual report. It states that they plan to spend $33Billion on new content in the 2022 fiscal year. This began October 1, according to The Hollywood Reporter. The $33 billion will be used to fund all areas of Disney’s media conglomerate. The total amount of the report is $8 billion higher than that reported in 2021 when it was approximately $25 billion. This increase in spending was to add content to the streaming service. It does not consider production disruptions caused by the ongoing pandemic.
The report also includes information about where some of the $33billion will go and more details about what the company intends to release in 2022. Disney intends to release 50 titles for theatrical or home viewing, 60 unscripted shows, 25 drama series, and 15 docuseries, as well as 10 animated series and 5 made-for-TV movies. Many of the series announced will be part of MCU. Even though Netflix plans to spend approximately $14 million by 2022 and WarnerMedia is planning to spend $20 Billion.
It was daunting to initially set Disney’s goal of publishing over 100 titles by 2022. This is a lot considering that there were 60 new titles released in 2021. Disney fans were initially concerned about whether the new titles would live up to their expectations. Although the huge budget might be reassuring to audiences, it is not enough. While shows for the MCU, such as the Hawkeye series or Star Wars, will get their share of the budget allocation, other shows may not receive the same treatment. It is still a matter of quality over quantity. A larger budget can’t guarantee quality content.