Disney Announces New Movie Release Schedule

 by Ray Keating

News

DisneyBizJournal.com

September 23, 2020

 

The Walt Disney Company announced a new movie release schedule, with Black Widow among the films getting rescheduled.

Black Widow is being shifted from November 6, 2020, to May 7, 2021. As for other moves among the current Marvel Studios slate, Shang Chi and the Legend of the Ten Rings goes from May 7, 2021, to July 9, 2021; and Eternals moves from February 12, 2021, to November 5, 2021. Remaining in place, as far as we know, are Thor: Love and Thunder on February 11, 2022; Doctor Strange in the Multiverse of Madness on March 25, 2022; and Captain Marvel 2 on July 8, 2022. Also, Black Panther 2 was scheduled for May 6, 2022, and officially remains there even with the tragic death of Chadwick Boseman.

 

As for other Disney films, the following moves have been made to release dates for 20^th Century Studios releases: The Empty Man is now scheduled for October 23, 2020 (actually moved back from December 4, 2020); Death on the Nile was moved from October 9, 2020, to December 18, 2020; The King’s Man is now scheduled for February 12, 2021 (also moved back from February 26, 2021); Deep Water moved from November 13, 2020, to August 13, 2021; The Last Duel went from January 8, 2021, to October 15, 2021.

 

And Steven Spielberg’s version of West Side Story (also 20th Century Studios) was pushed back a year – from December 18, 2020, to December 10, 2021.

 

Pixar’s Soul remained at November 20, 2020.

 

While these moves are not surprising given the ongoing pandemic challenges, it’s nonetheless brutal news for movie theaters.

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Ray Keating is the editor, publisher and economist for DisneyBizJournal.com, and author of the Pastor Stephen Grant novels. He can be contacted at  raykeating@keatingreports.com.

 

Also, get the paperback or Kindle edition of Ray Keating’s new book Behind Enemy Lines: Conservative Communiques from Left-Wing New York.

 

Hong Kong Disneyland Reopening, Again

 by Ray Keating

News

DisneyBizJournal.com

September 22, 2020

 

Hong Kong Disneyland announced today that it will reopen on September 25 on a five-day-a-week schedule, with the park on Lantau Island being closed on Tuesdays and Thursdays (except for public holidays).

Photo: Courtesy of Hong Kong Disneyland

 

Due to the COVID-19 pandemic, Hong Kong Disneyland had been closed from January 23 to June 18. It then reopened, only to have to close once more on July 15.

 

Hong Kong Disneyland’s statement said:

 

“In alignment with the latest guidance from health and government authorities, the resort will continue its measured approach with health and safety measures such as capacity control, health screenings, temperature checks, requiring face masks, social distancing, and increased cleaning and sanitization… The online reservation system will remain in place, with all guests being required to reserve their visit date with valid tickets or membership cards through the Hong Kong Disneyland Park Visit Reservation website prior to arrival.”

 

Regarding the pandemic, Variety reported, “The territory has now largely tamed the third wave. On Tuesday, Hong Kong reported six additional confirmed cases of coronavirus, of which four were imported. That took the number of cases to 5,039 in Hong Kong so far, including 103 fatalities.”

 

Regarding the state of tourism in Hong Kong, the South China Morning Post noted, “Hopes of a rebound in tourism were also gloomy as the city’s tourism board showed that fewer than 4,500 people visited in August, a 99.9 per cent year-on-year slump, and a 78 per cent drop from the nearly 20,600 people who visited in July.”

 

The Walt Disney Company owns 47 percent of Hong Kong Disneyland, with the Hong Kong government being majority owner at 53 percent (the ownership make-up originally was 57 percent Hong Kong and 43 percent Disney). Disney handles all of the operations.

 

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Ray Keating is the editor, publisher and economist for DisneyBizJournal.com, and author of the Pastor Stephen Grant novels. He can be contacted at  raykeating@keatingreports.com.

 

Also, get the paperback or Kindle edition of Ray Keating’s new book Behind Enemy Lines: Conservative Communiques from Left-Wing New York.

 

Happy Birthday, Bill Murray!

 by Chris Lucas

Guest Column

DisneyBizJournal.com

September 21, 2020

 

(Editor’s Note: Bill Murray has appeared in assorted Disney (especially Disney’s Touchstone) movies. Those include The Life Aquatic with Steve Zissou, Rushmore, Cradle Will Rock, Ed Wood, What About Bob? and the 2016 adaptation of The Jungle Book.)

 

Happy 70th birthday to one of the kookiest and nicest guys I’ve ever worked with.

 

In the early 1990s, I contributed to a Michael Jordan parody sketch that Mr. Murray was starring in for ESPN. The problem on the day we started shooting was that nobody knew when or even if he would show up. He’s notoriously non-committal, even with big budget films, with no agent and just an answering machine screening his calls. They had a standby actor ready just in case he backed out at the last minute. 

 

Bill Murray and Christ Lucas (Photo courtesy of Chris Lucas)

Luckily, he did show up. Mr. Murray was gracious to everyone on set, a real professional, as always. He also tossed out much of what was written and made up his own amazing comedy bits, as we sat watching in awe.

 

While we took breaks, he chatted amiably with everyone. The subject of baseball came up. He asked me who my favorite player was when I was a kid. I said Larry Bowa of the Phillies, and he was baffled that I didn’t choose a Yankee or some other 70s superstar.

 

Years later, I ran into Mr. Murray at an awards show. His first words to me were: “It’s the one man Larry Bowa fan club!” 

 

Happy birthday, Mr. Murray. Thanks for all the laughs!

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Chris Lucas is the author of Top Disney: 100 Top Ten Lists of the Best of Disney, from the Man to the Mouse and Beyond.

 

On the PRESS CLUB C Podcast, enjoy Ray’s recent discussion with Chris Lucas about his career as an actor, author and Disney expert. Tune in right here!

 

Disney and the Beach Boys: Summer Never Ends

 by Ray Keating

Commentary/Review

DisneyBizJournal.com

September 21, 2020

 

Brian Wilson, the primary creative force behind the Beach Boys, once said, “Summer means happy times and good sunshine. It means going to the beach, going to Disneyland, having fun.” 

While summer 2020 officially ends on Tuesday, September 22, for fans of the Beach Boys and Disney, does summer ever really come to an end? I like to think not.

 

It also turns out that Wilson and the Beach Boys have a long summertime relationship with Disney. 

 

Back in 1957, Bruce Johnston, later a Beach Boy, penned a song called “Disney Girls.” It wasn’t released until the Beach Boys’ 1971 album Surf’s Up. “Disney Girls” is a nostalgia-laden, fantasy song. Johnston took the lead on the song, and at one point sings:

 

Oh reality, it's not for me

And it makes me laugh

Oh, fantasy world and Disney girls

I'm coming back

Patti Page and summer days

On old Cape Cod

Happy times making wine

In my garage

Country shade and lemonade

 

There also have been a couple of Disney movies with Beach Boys tie-ins. First, the Beach Boys actually appeared in the 1965 Disney movie The Monkey’s Uncle, in which they performed the title song – with Annette Funicello. The song was written by the Sherman Brothers. We’ll try to forgive the Beach Boys, Annette and the Sherman Brothers for this one.

It would be another 23 years, but the Beach Boys would experience great success with the song “Kokomo,” which was the theme song for the movie Cocktail. The song has the Beach Boys hitting all the right notes and telling us…

 

Off the Florida Keys, there's a place called Kokomo
That's where you want to go to get away from it all
Bodies in the sand, tropical drink melting in your hand
We'll be falling in love to the rhythm of a steel drum band
Down in Kokomo

 

Sounds good. Count me in.

 

Cocktail, starring Tom Cruise, never lived up to the song. But it was produced by Disney’s Touchstone and released by the company’s Buena Vista Pictures. 

“Kokomo” made history. It hit #1 on the charts, with the last time the Beach Boys claiming a #1 hit being in 1966 with “Good Vibrations.” That 22-year gap turned out to be the longest stretch between chart toppers for an American band.

 

In 2002, according to Disney.fandom.com, the Beach Boys also performed at the “Rockin’ the Bay” concert series at California Adventure. This appearance reflected the divisions within the band, with Mike Love and Bruce Johnston performing, but not Al Jardine or Brian Wilson. (By this time, Dennis and Carl Wilson had passed away in 1983 and 1998, respectively.)

 

Time passed, but in 2011, Brian Wilson reunited with Disney to release the album In the Key of Disney. For the fans of both Disney and the Beach Boys (well, at least, Brian Wilson), this makes for a fun (though thin) album. It features 11 Disney favorites done in very Brian Wilson-style. Some tunes work – such as “You’ve Got a Friend in Me,” “The Bare Necessities,” “Kiss the Girl,” and “I Just Can’t Wait to be King” – and others fall short. 

 

In the end, In the Key of Disney makes for a pleasant addition to the rolling summer that is both Disney and the Beach Boys. But the two crossovers that warrant our appreciation and provide the best Disney-Beach Boys combos capturing an ongoing summer are “Disney Girls” and “Kokomo.” These are, to steal the title from a Beach Boys album, the sounds of summer.

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Ray Keating is the editor, publisher and economist for DisneyBizJournal.com, and author of the Pastor Stephen Grant novels. He can be contacted at  raykeating@keatingreports.com.

 

Also, get the paperback or Kindle edition of Ray Keating’s new book Behind Enemy Lines: Conservative Communiques from Left-Wing New York.

 

Tokyo Disneyland Ready to Open Largest Park Expansion in Its History

 by Beth Keating

News

DisneyBizJournal.com

September 19, 2020

 

In the past few months, with the focus on so many things that have not reopened, or have been cancelled, such as “Mickey’s Not So Scary Halloween Party” at Disney World, the Candlelight Processional at Epcot, or Disneyland (California) itself, it is sometimes easy to overlook the strides that Disney is making in forging ahead in other areas. 

 

TRON construction photo, August 2020, DisneyBizJournal

This week, we’ve not only seen video proof that Magic Kingdom’s “TRON Lightcycle Run” construction is rapidly advancing, as shown in Wednesday’s video posting  from Imagineer Zach Riddley on the installation of the first of 40 pieces for the curved wave canopy for the Upload Conduit portion of the ride, but Tokyo Disneyland (which brought back its “Light the Night” fireworks show and “Nightfall Glow” mini-parade on September 1) made a significant announcement about their park expansion. The France pavilion at Epcot is progressing nicely as well, and work continues on the Halcyon, the Star Wars: Galactic Starcruiser-themed hotel near Hollywood Studios.

 

This week’s Tokyo Disneyland announcement brought welcome news that on September 28, Tokyo Disneyland will be officially opening the largest expansion in the park’s history. This three-year-long undertaking stretches across three of the park’s lands - Fantasyland, Tomorrowland and Toontown - bringing with it new rides, restaurants, and shops. The opening had been expected in April, but was delayed due to COVID-19 shutdowns.

Among the new offerings, three primary attractions stand out. In Fantasyland, the Beauty and the Beast story will come alive in the Enchanted Tale of Beauty and the Beast.  In the first ever ride-through attraction of Beauty and the Beast, guests will travel along in magical dancing tea cup vehicles through Beast’s castle, experiencing state-of-the-art animatronics and scenes and music from the movie. Maurice’s Cottage will be part of the setting in Belle’s village in Fantasyland, but the “wow” moment will undoubtedly be Beast’s nearly 100-foot tall castle reigning over the forest. 

 

In Tomorrowland, The Happy Ride with Baymax (based on Big Hero 6) will welcome guests to a rotating ride similar to Alien Swirling Saucers, while in Toontown, Minnie’s Style Studio provides a new Disney Character greeting experience. Guests will meet Minnie in the studio where she designs, creates and photographs her original clothing designs. On their way to greeting the fashion icon in her studio, visitors will get to walk through Minnie’s office and workroom. Minnie will appear in an ever-changing array of seasonal costumes that she has designed herself.

 

There will be a number of new dining opportunities debuting as well, including The Big Pop in Tomorrowland, a specialty popcorn shop with its gigantic popcorn chandelier, and a 200-seat counter service location, La Teverne de Gaston, in Fantasyland. La Teverne de Gaston  proudly displays trophies from Gaston’s many escapades, near his fireplace, of course, and serves Gaston’s favorite brew and entrees such as sausage in a croissant. Next door, LeFou's will also offer snacks and goodies for park guests, including a new-to-Tokyo Disneyland apple-caramel churro.  But if shopping is more your thing, The Village Shoppes in Fantasyland, including La Belle Librairie, Little Town Traders and Bonjour Gifts will be opening their doors for your souvenirs and treasures.

 

A 1,500-seat theatre slated as part of the expansion is expected to open at a later date. The Fantasyland Forest Theatre is the first theatre in the park, and will be home to the “Mickey’s Magical Music World” show.

 

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Beth Keating is a regular contributor to DisneyBizJournal.

 

Report: Big Layoffs at Disney World Swan and Dolphin

 by Ray Keating

News

DisneyBizJournal.com

September 18, 2020

 

The Orlando Sentinel is reporting that the Walt Disney World Swan and Dolphin Resort – a Marriott property – is laying off 1,100 employees due to low occupancy and cancelled events.

Photo from Walt Disney World Swan and Dolphin Resort

The Sentinel noted:

 

Even though all Orlando’s theme parks are open, September has been a brutal time for the industry as thousands of employees have recently been let go or placed on indefinite furloughs.

 

New notices filed this week showed 5,400 Universal employees are furloughed and 1,900 employees at SeaWorld’s Orlando properties are now permanently laid off after being furloughed since March.

 

It also was reported that the 1,136 layoffs would be “permanent and effective Nov. 13.”

 

The “leisure and hospitality” sector has been particularly brutalized during this pandemic economy. According to U.S. Bureau of Labor Statistics data, total nonfarm private payroll employment declined by 9.76 million from August 2019 to August 2020, and 4 million of those losses came in the leisure and hospitality area. So, while leisure and hospitality accounted for about 13 percent of private payrolls, it has made up more than 40 percent of lost employment.

 

The Sentinel pointed out, “The Swan and Dolphin warned the economic impact will carry over into 2021.”

 

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Ray Keating is the editor, publisher and economist for DisneyBizJournal.com, and author of the Pastor Stephen Grant novels. He can be contacted at  raykeating@keatingreports.com.

 

Also, get the paperback or Kindle edition of Ray Keating’s new book Behind Enemy Lines: Conservative Communiques from Left-Wing New York.

 

Disney Extends Dry Time for Cruises and Water Parks

by Ray Keating

News

DisneyBizJournal.com

September 17, 2020

 

Disney will be staying out of the water for a bit longer, with the cruise line and water parks staying in dry dock for additional time.

 

The Disney Cruise Line has announced that due to the coronavirus and awaiting new directions from the U.S. Centers for Disease Control and Prevention, “Sailings are cancelled on board the Disney Fantasy through December 6; the Disney Dream and Disney Wonder through December 11; and the Disney Magic through December 12.”

Guests with cruises cancelled will have the option of a cruise credit for a future sailing or a refund.

 

Meanwhile, it also has been announced that while the Walt Disney World water parks – Blizzard Beach and Typhoon Lagoon – remain closed, Disney declared that, “pending government approvals, we currently plan to reopen one of the two Disney water parks on March 7, 2021.”

 

Disney stated on the Walt Disney World website, “Like the other areas of Walt Disney World Resort, we will welcome back Guests and Cast Members to our water parks in a responsible way, with a plan focused on health and well-being. We will provide more details on our phased reopening plan, including a decision on the specific water park that will be reopening first, at a later time.” 

 

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Ray Keating is the editor, publisher and economist for DisneyBizJournal.com, and author of the Pastor Stephen Grant novels. He can be contacted at  raykeating@keatingreports.com.

 

Also, get the paperback or Kindle edition of Ray Keating’s new book Behind Enemy Lines: Conservative Communiques from Left-Wing New York.

 

Disney News on “The Mandalorian,” “Black Widow” and “Soul”

by Ray Keating

News

DisneyBizJournal.com

September 15, 2020

There’s buzz about big stuff from Disney.

First, the trailer for Season 2 of The Mandalorian hit today, and yes, it looks freakin’ awesome. The Mandalorian on Disney+ pulled Star Wars out of some movie muck, and expectations are rising high for the new season starting to stream on October 30. “This is the way,” indeed!

Second, Variety serves up the Hollywood buzz about a couple of big movies coming from Disney. It reports that Disney is likely to delay the release of Black Widow, which is scheduled for November 6, and has been moved multiple times since it was originally supposed to be released this past May. What the Black Widow news means, if confirmed, for other Marvel releases, namely, as noted by Variety, Eternals, Shang-Chi and the Legend of the Ten Rings and Thor: Love and Thunder, no one knows.

Third, it also was reported that Pixar’s Soul not only looks like it will be rescheduled from its current November 20 slot, but that it could wind up going straight to Disney+. If that gets confirmed by Disney, there will be lots of speculation as to whether it might be some Disney+/theaters hybrid release, a Disney+ premium option like Mulan, or simply added to Disney+ in straightforward fashion.

The only sure thing right now is that the COVID-19 pandemic continues to roil Hollywood, along with most other businesses across the nation.

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Ray Keating is the editor, publisher and economist for DisneyBizJournal.com, and author of the Pastor Stephen Grant novels. He can be contacted at  raykeating@keatingreports.com.

Also, get the paperback or Kindle edition of Ray Keating’s new book Behind Enemy Lines: Conservative Communiques from Left-Wing New York.

Disney’s Deserved “Mulan” Mess

by Ray Keating

Commentary

DisneyBizJournal.com

September 14, 2020

The release of Mulan on Disney+ was supposed to be a major test case – perhaps a potential gamechanger – for the movie industry. So far, it’s turned out to be a mess for Disney, and deservedly so.

The reported $200-million production budget for Mulan made its release on Disney+, rather than in theaters, a big decision. And then there was the experiment of charging an additional premium price ($29.99) to view it on Disney+, which subscribers already pay for. 

What could be learned from all of this? There’s actually little about the business model for movie releases, and more about the do’s and don’ts when making movies.

The clearest takeaway might be: It’s dangerous for a U.S. business to get into bed with the Chinese communist government.

Also, when filming a movie in China, perhaps don’t do it in the Xinjiang region where prison and indoctrination camps intern Uighur Muslims. For good measure, in the movie’s credits, don’t thank the government entities guilty of the oppression – such as the Turpan Public Security Bureau – and the propaganda agencies pushing lies and covering up.

For good measure, perhaps the movie’s star, Liu Yifei (Mulan), should have refrained from supporting the Hong Kong police for cracking down on pro-democracy protestors last year. And the same goes for another actor in the film, Donnie Yen (Commander Tung), who subsequently did the same thing.

And it’s not a good idea to distort history in order to – intentionally or not? – pander to the Chinese communists’ nationalistic impulses. Writing in Foreign Policy, Jeanette Ng points out:

But the rotten heart of Mulan as a film, rather than its production process, is the accidental regurgitation of China’s current nationalist myths as part of a messy, confused, and boring film. The title card fades into a location said to be the “Silk Road, Northwest China.” This is, of course, Xinjiang—here set up by the narrative frame as an inalienable part of China that Mulan must defend for her father, her family, and her emperor. That’s not the historical reality—or even the reality of the original poem the stories are based on, which depicts Mulan as the servant of a khan of the Northern Wei dynasty, not an all-powerful Chinese emperor.

On September 10, CNBC reported, “Chinese authorities have told major media outlets not to cover Walt Disney’s release of ‘Mulan’, in an order issued after controversy erupted overseas over the film’s links with the Xinjiang region… No reason was given in the notice, but the sources said they believed it was because of the overseas backlash over the film’s links to Xinjiang.” And according to The New York Times, the box office for Mulan in China was underwhelming during its opening weekend, with “a tepid $23 million” that came up short of expectations and other recent major releases, such as Tenet’s $29.6 million opening and The Eight Hundred, a Chinese war epic, registering $75.7 million during its opening weekend.

In the U.S., lawmakers on both sides of the political aisle are displeased, and demanding more information from Disney and CEO Bob Chapek. Reuters, for example, reported: 

A group of bipartisan U.S. lawmakers urged Walt Disney Co CEO Bob Chapek to explain the company's connection with “security and propaganda” authorities of China's Xinjiang region during the production of live-action war epic “Mulan”. “Disney's apparent cooperation with officials of the People's Republic of China (PRC) who are most responsible for committing atrocities - or for covering up those crimes - is profoundly disturbing,” the Republican senators and representatives wrote in Friday's letter. It urged Disney to make a detailed explanation. The letter was retweeted by the Congressional-Executive Commission on China (CECC), which monitors human rights and the rule of law and submits an annual report to President Donald Trump and Congress.

The lawmakers’ letter also said: 

Publicly available information prior to the filming of Mulan showed the existence of mass internment camps for the detention of Uyghurs. By July 1, 2018, major news outlets in the United States, Australia, United Kingdom, and Hong Kong all had reported that Beijing had interned hundreds of thousands, if not more than one million, Uyghurs and minorities in the XUAR. The decision to film parts of Mulan in the XUAR, in cooperation with local security and propaganda elements, offers tacit legitimacy to these perpetrators of crimes that may warrant the designation of genocide…”

The Walt Disney Company’s website states, “We believe social responsibility is a long-term investment that serves to strengthen our operations and competitiveness in the marketplace, enhance risk management, attract and engage talented employees, and maintain our reputation.” We seek to fully understand how you implement this commitment in the activities you undertake in China. 

Hmmm, that last point warrants some added attention. In October of last year, when asked about the Hong Kong protests, then-CEO Bob Iger said, “What we learned in the last week – we’ve learned how complicated this is. The biggest learning from that is that caution is imperative. To take a position that could harm our company in some form would be a big mistake. I just don’t believe it’s something we should engage in in a public manner.” Of course, there have been other issues that Iger and Disney have been more than willing to engage on publicly. And what they miss, or choose to ignore, is that if you go into business with a communist government (as Disney has with its Shanghai and Hong Kong theme parks) - indeed, any government - politics are bound to come into play. And it might get uncomfortable – very uncomfortable.

Finally, according to Vanity Fair, Disney CFO Christine McCarthy told the Bank of America Virtual 2020 Media, Communications & Entertainment Conference that the controversy over the credits in Mulan has “generated a lot of issues for us.”

Aw, poor Disney executives. The “issues” they face, though, aren’t nearly as dire as the “issues” faced by pro-democracy protestors in Hong Kong, nor by the Uighur Muslims imprisoned in the Xinjiang region of China, nor by so many others suffering at the hands of the Chinese government led by President Xi Jinping, who seems intent on becoming the next Chairman Mao.

Perhaps the Disney brass needs to be reminded of a couple of things that Walt Disney himself declared…

“I believe that this spiritual and intellectual freedom which we Americans enjoy is our greatest cultural blessing. Therefore, it seems to me, that the first duty of culture is to defend freedom and resist all tyranny.”

“Tomorrow will be better as long as America keeps alive the ideals of freedom and a better life.”

Listen to Walt – those seem to be some pretty sound guiding principles.

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Ray Keating is the editor, publisher and economist for DisneyBizJournal.com, and author of the Pastor Stephen Grant novels. He can be contacted at  raykeating@keatingreports.com.

Also, get the paperback or Kindle edition of Ray Keating’s new book Behind Enemy Lines: Conservative Communiques from Left-Wing New York.

Disneynomics: Disney+ and Its Effect on Streaming, Including Netflix

by Ray Keating

Disneynomics Column

DisneyBizJournal.com

September 13, 2020

Reed Hastings, the Netflix CEO, and other observers are impressed with what Disney has achieved so far with Disney+, and expectations have only become more robust looking ahead. That’s a good thing, since uncertainty reigns across many of Disney’s other ventures.

In July, Netflix reported that it had gained 10.1 million subscribers in the quarter ending in June of this year. And that came after adding 16.1 million in the previous quarter. Netflix now has more than 190 million subscribers globally, and for the year ending in June, Netflix revenue registered $22.6 billion, which was a 28.4 percent increase over the previous year. 

And who is number 2 in terms of subscribers? That would be Disney+ at more than 60.5 million, and of course, Disney+ only came online in November of last year. However, total subscription numbers for the Walt Disney Company top 100 million when combining Disney’s Disney+, Hulu and ESPN+.

Hastings apparently is impressed with what Disney has achieved. In a September 7 report, Bloomberg News asked Hastings to identify his number one competitor: “‘Disney,’ he said. ‘If you’d asked us a year ago, “What are the odds that they’re going to get to 60 million subscribers in the first year?” I’d be like 0. I mean how can that happen? It’s been super impressive execution.’”

Competition and too many streaming options? Hastings doesn’t seem worried: “‘There is no such thing as subscription fatigue,’ [Hastings] said. ‘Disney has “The Mandalorian” and we have “Stranger Things.” They are somewhat complementary. People will subscribe to both.’”

In an analysis released early last week by Deutsche Bank, analyst Bryan Kraft says streaming promises to be the big plus for Disney. Indeed, based on his take on the streaming end, Kraft upgraded his rating on Disney from a hold to a buy, with a target price of $163 (the stock closed on Friday, September 11, at $131.75). As MarketWatch noted:

The company has “the most clear path to successfully transitioning its general entertainment programming and content production businesses into a globally scaled, vertically integrated streaming entertainment leader,” Kraft wrote. “The clearest sign that Disney is succeeding in transitioning its business model, aside from the impressive subscriber results, has been management's decision to shut down some of its traditional networks in international markets, including the UK,” he continued, as Disney has been willing to write down the goodwill associated with such moves.

Perhaps most interesting was Hastings’ acknowledging a shift in strategy at Netflix: “Netflix is no longer solely focused on making high-quality, award-winning shows. Hastings and his co-CEO Ted Sarandos say building new franchises is the next big mission. The want to identify stories that can stretch across multiple TV shows, movies, toys and lunch boxes, appealing to viewers all over the world.”

That, of course, and as Bloomberg noted, sounds very much like a Disney strategy. Disney’s influence already is being seen, with recognition of value in Disney’s model. At the same time, Disney has learned from Netflix that a regular stream of new content is vital to sustaining and growing subscribers. Also, consider that the Netflix shift is about adding a Disney model onto their existing “high-quality, award-winning shows” strategy, not replacing it. That points to the market leadership and enormous revenue being raked in by Netflix. 

Can Disney seriously challenge Netflix to become number one in streaming? Sure, they can. We’ll see if they will. Part of the story will be told as new production ramps up post-pandemic, and another part could be about Disney winning a much bigger part of live sports, such as NFL Ticket when that becomes available after the 2022 season.

For streaming aficionados and bingers, strap in. Toss HBO Max, Peacock, Amazon’s Prime Video, YouTube and others into the mix, and this promises to be a great deal of fun.

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Ray Keating is the editor, publisher and economist for DisneyBizJournal.com, and author of the Pastor Stephen Grant novels. He can be contacted at  raykeating@keatingreports.com.

Also, get the paperback or Kindle edition of Ray Keating’s new book Behind Enemy Lines: Conservative Communiques from Left-Wing New York.