It may not be in theaters.
Disney announced on Tuesday that the remake of the 1998 animated classic will make its way to Disney +, the company’s new streaming service, for an additional fee of US $ 29.99. The film will be available on September 4.
Bob Chapek, CEO of Disney, said the pandemic has forced the company to think about “different approaches” to better serve consumers.
“We thought it was important to find alternative ways to present them with this exceptional film for families in a timely manner,” he said during the third quarter earnings call.
Chapek added that “Mulan” will be released simultaneously in theaters in markets where Disney + is not available and, of course, where theaters are open.
The news of the publication came as Disney released brutal quarterly results that showed how ravaged the company’s media empire was by the pandemic. The company said it suffered a net loss of nearly $ 5 billion in the third quarter of this year.
In addition to its huge quarterly loss, Disney parks activity has been particularly hard hit by COVID-19. Its parks and resort unit lost $ 3.5 billion in the quarter, and unit revenue fell 85% from the previous year quarter.
The company’s overall sales fell 42% to $ 11.8 billion.
One bright spot was Disney +, Disney’s new streaming service, which the company says now has over 60 million subscribers.
Disney shares were mostly flat after trading hours.
While “Mulan” going to Disney + is big news for Hollywood, it’s unclear whether the announcement will have huge ramifications for theaters as Chapek called the film’s release “on time”.
However, Chapek also said that it would be interesting to see how the sales of the film go on the Disney platform. So consider “Mulan” as an experience for now.
The film, which was due for release in March, has been postponed several times in recent months. It was recently scheduled to premiere on August 21, but was pulled from the calendar at the end of July.
Disney’s release of “Mulan” on its streaming service for an additional cost is yet another disruption to the film industry.
Universal and AMC, the world’s largest theater chain, struck a deal last week that allows new films from the studio to play in homes earlier. Universal’s new films will only have three weekends – or 17 days – of theatrical exclusivity left, instead of the usual 70. After that, Universal and its sister studio, Focus Features, have the option to air. movies on video-on-demand platforms.