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        <title><![CDATA[Disney says ‘Mulan’ plan a ‘one-off’ after posting $5B loss]]></title>
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        <link>https://usagag.com/2020/08/04/disney-says-mulan-plan-a-one-off-after-posting-5b-loss/</link>
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            <media:title type="html">Disney says ‘Mulan’ plan a ‘one-off’ after posting $5B loss</media:title>
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        <content:encoded><![CDATA[<p>After reporting an eye-popping $5 billion loss, Disney said it will release “Mulan” directly to the Disney+ as it looks to its budding streaming service to carry it through the pandemic.</p><p>Disney Chief Executive Bob Chapek on Tuesday told investors that the live-action version of its popular animated film from 1998 — originally scheduled to debut in theaters this summer — will now be rented out on Disney+ for $29.99 starting on Sept. 4.</p><p>Disney’s plans for “Mulan,” which will also extend to Canada, New Zealand and part of Western Europe, will mark the first time it will charge for content on top of the $6.99 monthly fee subscribers pay for Disney’s streaming service.</p><p>The experiment comes as the Mouse House saw revenue for the three months ending in June plummet 42 percent over the previous year as the <strong>pandemic devastated</strong> its theme parks, movie and TV operations and its cruise lines.</p><p>&#8220;Most of our businesses were shut down and that had a huge impact on our results,&#8221; Chapek said Tuesday.</p><p>Despite the $4.72 billion loss on a $4.95 billion charge tied to pandemic expenses, Disney’s stock rose 4.7 percent in extended trading to $122.85 a share on rising expectations for Disney’s streaming business.</p><p>Chapek also announced plans to launch a new international streaming service next year under the Star brand it acquired from Fox to capitalize on growing demand for at-home-movie watching. The service, Chapek said, will feature content Disney owns from ABC Studios, Fox Television, FX, 20th Century Studios and Searchlight.</p><p>Chapek made clear, however, that the company behind &#8220;Frozen&#8221; and “The Lion King&#8221; isn&#8217;t giving up on the big screen yet. &#8220;We’re looking at ‘Mulan’ as a one-off,” Chapek said of the company&#8217;s plans for &#8220;Mulan,&#8221; which will be shown in theaters in China and other areas that have opened cinemas.</p><p>During the quarter ended June 30, revenue at its streaming and international division rose 2 percent to $3.97 billion, helped by strong growth at Disney+, which now has 60.5 million global paid subscribers.</p><p>Sales at its theme park and cruise lines, however, sank revenue 85 percent to $983 million, while its Hollywood studio sales revenue drop 55 percent to $1.74 billion.</p><p>Disney posted a loss of $4.72 billion, or $2.61 a share compared with net income of $1.4 billion or 79 cents a share.</p><p>The nearly $5 billion loss was largely due to a $4.95 billion charge the company took as a result of the pandemic. Stripping out the charge, Disney said net income totaled 8 cents a share.</p><p>Revenue plunged 42 percent to $11.78 billion from a record $20.25 billion a year ago.</p><p>Wall Street expected a net loss of 64 cents a share on sales of $12.39 billion.</p>]]></content:encoded>
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