Walt Disney Co DIS is making “Mulan” available on its streaming video-on-demand service Disney+, CNBC reported Tuesday.
The blockbuster movie will become available on the platform on September 4 at a price of $29.99. The cost of watching the Liu Yifei starrer would be in addition to the $6.99 per month the company charges for its SVOD service.
The entertainment giant also plans on releasing Mulan simultaneously in theaters where they are operational and in markets where Disney+ is not yet available.
The addition of the blockbuster could help Disney+ draw more subscribers, CNBC noted .
Why It Matters
The steep price for the on-demand viewing on the company’s own platform could reportedly contribute in recouping studio losses from earlier in 2020.
Disney reported adjusted quarterly earnings of 8 cents per share on Tuesday which beat analyst consensus of 64 cents loss.
The company’s theme parks revenue fell 85% and incurred a loss of $3.5 billion but Disney+ gained 57.5 million paid subscribers as of the end of June.
Other major Disney releases such as “Avatar” and “Star Wars” are delayed until December 2022 and December 2023 respectively, as theaters across the United States and several other countries remain shut due to the ongoing COVID-19 pandemic.
Disney+ earlier last month similarly premiered hit musical "Hamilton" on Disney+, skipping a theatrical release.
Disney shares closed 0.8% higher at $117.29 and further rose about 4.3% in the after-hours session.
Photo courtesy: The Walt Disney Company
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