The $33 billion marks an increase of approximately $8 billion in Disney's fiscal spending in 2021.
The company intends to expand its streaming reaches, such as Disney Plus, Hulu, and ESPN Plus, rather than
through its linear TV and movie businesses. The $33 billion total includes rights to sports content
and other content for ESPN, ESPN Plus, and other streaming platforms.
This also includes a renewed agreement with the NFL and the new deal with the NHL.
In its annual report, which was filed with the SEC on Wednesday afternoon, the company explained:
"The increase is driven by higher spend to support our DTC expansion and generally assumes no
significant disruptions to production due to COVID-19."
This revelation comes after Disney experienced slow growth in its latest quarter across all of its streaming platforms.
The company gained a total of 2.1 million subscribers in the quarter, with the lowest performance in
terms of subscribers since its launch.
However, it's not all bad news for media giant Disney.
Its Disney+ streaming platform has gained nearly 120 million subscribers worldwide and quickly joined the
ranks of streaming titans alongside companies like Netflix and Amazon Prime.
Ever since the news broke that Disney had increased its budget, there has been a question on the minds of many.
And what will this $33 billion bring us? Well, in the annual report, The Walt Disney Company stated that its
studios, which are Marvel Studios, Walt Disney Pictures, Lucasfilm, Pixar, Searchlight Pictures, and
Twentieth Century Studios will deliver 50 titles (films and series) for theaters and broadcast.
And some of those titles are known to us.
For example, Marvel will bring us 'Doctor Strange in the Multiverse of Madness' with Benedict Cumberbatch and
Elizabeth Olsen in May 2022.