Since its launch in November 2019, Disney’s streaming service — Disney+ — seems to have become the problem child of the studio giant. While seeing a lot of initial success, the streamer has been struggling for years. In the less than four years since it has been in existence, Disney+ has cost The Walt Disney Company more than $11 billion.
When Bob Chapek was still in charge, he repeatedly said that Disney+ would be profitable by 2024. However, we do not know how valid those statements are, as Chapek is facing multiple lawsuits regarding them.
Related: Bob Iger Makes Big Reversal In Chapek-Era Changes
When (former and now current) Disney CEO Bob Iger returned to the helm, he made it clear that the company was going to be taking a more critical approach to the shows they made for Disney+, as well as the ones that were already there. This has led to some major cancellations — including The Mysterious Benedict Society, National Treasure: Edge of History, Doogie Kamealoha MD, Willow, and Big Shot.
Related: Disney+ Project Canceled, Despite Already Being Filmed
Although Disney+ is still losing hundreds of millions of dollars, Iger has managed to stem the bleeding. Last quarter, Disney+ only lost $300 million, which is a significant reduction compared to what it has been losing. Unfortunately, the streaming service also lost more than 1 million subscribers, but Iger is certain Disney will win them back and then some.
And it looks like he is going to use Taylor Swift to help him achieve his goal.
During Disney’s first-quarter earnings call, held on February 7, Iger announced that beginning March 15, Disney+ would have the exclusive streaming rights to Swift’s sold-out Eras Tour concert film.
However, it was NOT cheap for Disney to get the rights to stream the Eras Tour (Taylor’s Version). In fact, it set Disney back $75 MILLION, beating out bids from Netflix and Universal.
Related: Taylor Swift Fans Crowd Disneyland, Rumors of BIG Appearance
According to TheWrap, Iger wanted to be able to announce something big during the earnings call. Disney has been struggling during the last few, and the company is currently fighting against an attempted hostile takeover from billionaire Nelson Peltz.
Disney chief Bob Iger “wanted big announcements for yesterday’s earnings call, and paid big prices to get them,” including the pop star’s concert film, which grossed $261 million worldwide, the newsletter reported Friday, citing two sources familiar with the negotiations.
What will make Disney’s version of the tour exciting is that there will be five additional songs that have not been released on film before!
The Disney+ release date for Swift’s Eras Tour film is interesting, considering it will come one day AFTER Disney+ begins its password-sharing crackdown. Since its inception, subscribers have been able to share their Disney+ password with anyone they want. However, on March 14, users will no longer be permitted to share passwords. So, if you want to watch the Eras tour, you’ll have to sign up for your own Disney+ account.
Will you be watching Taylor Swift’s Eras Tour on Disney+? Let us know in the comments!
