The Walt Disney Company intends to shut down 100 of its international TV channels as it looks to move Disney Plus front and centre.
Speaking at JPMorgan Chase & Co.’s technology and media conference, CEO Bob Chapek said the closures are in addition to the 30 networks the company closed down in 2020, including its UK channels.
“The great majority of that content will migrate to Disney Plus,” he added. “That continues to be a core strategy for us as we pivot toward direct-to-consumer.”
Chapek added that the closures will depend on contracts Disney has in individual markets.
He conceded that viewers are moving more towards watching content online and Disney doesn’t want to be left behind. “We don’t want to be on the back end of that wave,” he said. “We want to be on the front end of that wave.”
Details of which countries will be affected have not been revealed.