Jennifer Maas TV Business WriterDisney plans to increase spending on Disney Media and Entertainment Distribution (DMED) programming by more than $1 billion this quarter versus the same period last year.For the current quarter, the company plans to up its spending on direct-to-consumer programming by between $800 million and $1 billion versus the comparable fiscal 2021 quarter, CFO Christine McCarthy said during Disney’s fiscal Q1 2022 earnings call Wednesday.
On the linear network side, content spend is expected to go up by approximately $500 million.“It’s all about content, content, content,” CEO Bob Chapek said on the call, which followed Disney’s announcement that Disney Plus had reached nearly 130 million subscribers by the end of 2021.
Disney Plus has achieved its goal of premiering one new title each week, Chapek said, and overall wants to double content output.
By 2023, Disney will evaluate raising the price of Disney Plus once it achieves its target for new content.In its annual report last November, the Walt Disney Co.
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