Disney will close 18 TV channels across South-east Asia and pivot to a direct-to-consumer business model.
CAPE TOWN, April 29 (ANA) – With the global consumer shift towards on-demand video and TV streaming content, Disney will close 18 TV channels across South-east Asia and pivot to a direct-to-consumer (DTC) business model.
According to SportsPro, a UK-based media company, the affected channels include Fox Sports, Fox Action Movies, Fox Family Movies and Star Chinese Movies.
“The company is consolidating its Media Networks business primarily in South-east Asia and Hong Kong,” read a statement by Disney to its employees.
“These efforts will help us align our resources more efficiently and effectively to current and future business needs,” it said.
The decision follows the traction its streaming platform Disney+ has gained since it launched in Singapore on February 23.
Disney officially began rolling out Disney+ in November 2019 and has accumulated more than 100 million subscribers globally.
With fewer subscribers in the TV landscape and falling ratings, it further launched in Australia, New Zealand and across Europe and Latin America.
The service boasts film brands such as Pixar, Marvel and Star Wars.
The Straits Times, a Singapore-based publication, reported that local network provider StarHub, which hosted five of Disney’s channels, said there will be minimal impact on its customer base.
“Effective October 1, 2021, Disney will operate a streamlined television portfolio that covers Chinese language channels (Star Chinese Channel; Star Chinese Movies) and Factual Entertainment (National Geographic Channel; Nat Geo Wild),” the Walt Disney Company told The Straits Times.
– African News Agency (ANA); Editing by Yaron Blecher
ANA NEWS WIRE Disclaimer:
The African News Agency (ANA) is a news wire service and therefore subscribes to the highest standards of journalism as it relates to accuracy, fairness and impartiality.
ANA strives to provide accurate, well sourced and reliable information across Text, Images and Video. Where errors do appear, ANA will seek to correct these timeously and transparently.
The ANA platform also contains news and information from third party sources. ANA has sought to procure reliable content from trusted news sources but cannot be held responsible for the accuracy and opinions provided by such sources on the ANA platform or linked sites.
The content provided for on the ANA News Wire platform, both through the ANA news operation and via its third party sources, are for the sole use of authorised subscribers and partners. Unauthorised access to and usage of ANA content will be subject to legal steps. ANA reserves its rights in this regard.
ANA makes every effort to ensure that the website is up and running smoothly at all times, however ANA does not take responsibility for, and will not be held liable for times when the website is temporarily unavailable due to technical issues that are beyond our control.