Bob Chapek Coronavirus film audience pandemic Bob Chapek

Disney Charts Streaming Future as Coronavirus Roils Legacy Businesses

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hollywoodreporter.com

As Disney's legacy businesses continued to be hammered by the coronavirus pandemic, CEO Bob Chapek laid out a path forward for the company.

On a call with investors, the executive said that Disney would release live-action remake Mulan on Disney+ for an additional fee and would push more aggressively into streaming with a new global general interest service.

The news, which came minutes after Disney disclosed a $4.7 billion loss during the spring quarter, impressed investors, who sent the stock up 5 percent during after-hours trading.

Investors were expecting a tough fiscal third quarter for Disney, which was forced to halt much of its business amid the pandemic.

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