LOS ANGELES (CelebrityAccess) — In another blow to beleaguered major cinema presenters, Disney announced it plans to forgo a traditional cinematic release and will instead offer the movie as a premium rental on its Disney+ video streaming platform.
Fans will be able to rent the movie for $29.99 in the U.S. and in international markets prices via its Star brand starting on September 4th.
The announcement comes as a blow to major theater chain operators who were looking to major releases such as Disney’s “Mulan” and Warner Bros. Chris Nolan thriller “Tenet” as a way to attract the movie going public back to cinemas.
Disney CEO Bob Chapek announced the distribution shift in a conference call with investors over Disney’s fiscal third-quarter earnings report, which revealed that Disney had lost more than $5 billion due the pandemic.
Additionally, according to Mr. Chapek, Mulan will be launched in theaters once they are able to reopen.
Mr. Chapek also elaborated on Disney’s plan to roll out a new streaming platform, based on Disney’s Indian Star Brand.
“Mirroring the strategy we successfully pursued with Disney+, the offering will be rooted in content we own from the prolific and critically acclaimed production engines and libraries of ABC Studios, Fox television, FX, freeform, 20th Century studios and Searchlight,” Chapek said.
“In many markets, the offering will be fully integrated into our established Disney+ platform from both a marketing and a technology perspective and it will be distributed under the Star brand which has been successfully utilized by the company for other general entertainment platform launches, particularly with Disney+ Hotstar in India,” he added.