Hot ticket: Disney is betting the huge popularity of singer songwriter Taylor Swift (pictured) will lift subscriptions
Disney hopes to cash in on Taylor Swift mania to boost its subscription service.
It has bought exclusive streaming rights to the pop superstar’s Eras Tour concert film.
Amid tough competition from Netflix and Amazon Prime, it is under pressure from activist investors, and is betting the huge popularity of the singer songwriter, 34, will lift subscriptions.
Swift’s movie set a record for concert films, raking in more than £207million worldwide.
Fans can watch from March. Disney is to invest £1.2billion in video games studio Epic Games, Fortnite creator. It said 1.3m customers ditched subscriptions after a price rise in October.
But up to 6m are forecast to sign up in the first quarter of 2024. Operating losses for streaming services were £171million in the three months to the end of 2023.
Revenue across the whole business was £18.6billion during the quarter and net income was £1.7billion, up from £1.08billion. Shares rose 12.7 per cent.
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