Walt Disney is reportedly planning to cut down on its television broadcasting, sports catalogue and film studio business in India.
According to LiveMint, the company, which owns Star India, is reorganising its media and entertainment businesses to “focus on developing and producing original content for the company’s streaming services.”
In an announcement made in a blog on the company’s website, Bob Chapek, Chief Executive Officer, The Walt Disney Company said, “Given the incredible success of Disney+ and our plans to accelerate our direct-to-consumer business, we are strategically positioning our Company to more effectively support our growth strategy and increase shareholder value.
“Managing content creation distinct from distribution will allow us to be more effective and nimble in making the content consumers want most, delivered in the way they prefer to consume it. Our creative teams will concentrate on what they do best—making world-class, franchise-based content—while our newly centralized global distribution team will focus on delivering and monetizing that content in the most optimal way across all platforms, including Disney+, Hulu, ESPN+ and the coming Star international streaming service.”
Rumours have been rife that Star India will be shutting down international content service, Star World. It is also expected to wind down other channels that have been underperforming to near profit margins.