Communications in Humanities Research
- The Open Access Proceedings Series for Conferences
Communications in Humanities Research
Vol. 12, 20 November 2023
Open
Access | Article
How Disney Plus Helped Disney out of Financial Crisis
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Abstract
This paper examines the impact of the COVID-19 on The Walt Disney Company and the measures taken by the company, particularly the launch of the streaming service Disney Plus, to mitigate the economic crisis. The pandemic led to the closure of Disney's theme parks worldwide, resulting in significant revenue losses. The film industry also suffered as movie theaters closed and production was disrupted. As a result, Disney's stock price fell, and the company faced financial difficulties. However, the launch of Disney Plus in November 2019 provided a new source of income and profit opportunities. When people had to stay home, the demand for streaming services surged, and Disney Plus capitalized on this trend. As a result, the success of Disney Plus exceeded expectations, surpassing 60 million subscribers by August 2020. The paper analyzes the strategies employed by Disney to promote Disney Plus, including releasing blockbuster films directly on the platform and extensive advertising campaigns across various media channels. The company's public statements emphasizing its commitment to streaming media and its confidence in Disney Plus further contributed to its success. Overall, Disney Plus played a crucial role in mitigating the financial impact of the COVID-19 on The Walt Disney Company.
Keywords
COVID-19, pandemic, The Walt Disney Company, Disney Plus, streaming service, economic crisis
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- Volume Title
- Proceedings of the International Conference on Global Politics and Socio-Humanities (ICGPSH 2023)
- ISBN (Print)
- 978-1-83558-113-1
- ISBN (Online)
- 978-1-83558-114-8
- Published Date
- 20 November 2023
- Series
- Communications in Humanities Research
- ISSN (Print)
- 2753-7064
- ISSN (Online)
- 2753-7072
- DOI
- 10.54254/2753-7064/12/20230015
- Copyright
- 20 November 2023
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited