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Disney to spend $5 bln in Europe, UK on new blockbusters, FT reports
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Disney to spend $5 bln in Europe, UK on new blockbusters, FT reports
Aug 8, 2024 9:54 PM

Aug 9 (Reuters) - Disney ( DIS ) plans to spend at least $5

billion in the UK and continental Europe over the next five

years to produce blockbuster movies and TV shows, Jan Koeppen,

its president across Europe, the Middle East and Africa, told

Financial Times on Friday.

The company will commit about $1 billion a year in the

region over the next five years across films, Disney+, National

Geographic and other TV productions, Koeppen told FT.

Disney's ( DIS ) plans could build on the recent success of films

like "Inside Out 2" and the company's television business.

"Inside Out 2" notched $1.6 billion in global ticket sales

and "Deadpool & Wolverine," which debuted in the current

quarter, has brought in more than $850 million.

"We feel like we're really on a roll again with movies,

which is fantastic," Koeppen told FT.

Disney ( DIS ) didn't immediately respond to a Reuters request for

comment

Koeppen's comments follow Disney ( DIS ) forecasting a 'moderation

in demand' at its theme park business in coming quarters,

pulling shares down 1.1% on Wednesday.

Koeppen leads Disney's ( DIS ) EMEA business commercially and

operationally in over 130 markets across the region, according

to the company's website. His responsibilities include handling

Disney+, motion pictures, television, content licensing and

local original productions, the website showed.

(Reporting by Kanjyik Ghosh; Editing by Janane Venkatraman

)

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