When it comes to streamers, however, the truth is they still can’t live without the movie theater.
As fresh streaming services make waves in the fiercely competitive space, it’s big-screen IP that’s driving eyeballs. Disney announced during its Investor Day back in December that the studio plans to invest up to $16 billion worldwide on consumer content for Disney+, Hulu and ESPN through 2024. And it’s the feature franchises and recently acquired 20th Century Studios library that the studio plans to exploit in amassing premium content and meeting the demands of binge-hungry consumers. And it’s not just Disney that sees future revenues in franchises that the big screen has birthed, but WarnerMedia’s HBO Max as well.
“We had a $13 billion box office [in 2019], and that