November 8, 2019
Disney’s high-profile subscription streaming video service is launching in the United States, Canada and Holland on Nov. 12. The platform will be rolled out across Western Europe (United Kingdom, France, Germany, Italy and Spain) on March 31, 2020.
CEO Bob Iger made the announcement during the company Nov. 7 fiscal webcast, saying test runs in Holland had proved successful.
“Even without access to our full library or any original content, the service connected with users across all four quadrants, male and female, adults and kids, driven by the breadth of our content and the affinity people of all ages have for it,” Iger said about the previously disclosed Dutch tests.
He said Disney has spent the last few years “completely transforming” the company through strategic acquisitions [i.e. BAMTech, 20th Century Fox, Hulu] and organizational changes to focus the resources and creativity across the entire company on delivering an “extraordinary” DTC experience.
Disney’s direct-to-consumer segment is projected to lose upwards of $850 million in the current first quarter through ongoing investments in Disney+ and consolidation of Hulu — the latter ending the fiscal year with 28.5 million subscribers.
“We’re making a huge statement about the future of media and entertainment and our continued ability to thrive in this new era,” Iger said.