International Finance

The Walt Disney to carry on the Star Wars legacy

Walt Disney, ESPN app, Star Wars
There will be new TV shows and series created based on Star Wars story

The Walt Disney Company in an effort to drive its revenue in movie division has announced plans to produce a new round of Star Wars series.

Reports state that its revenue from movie business has shrunk one percent in the last quarter. The company has benefited from US tax cuts and its revenue was recorded at US$1.6bn. This drove its fourth quarter profits to US$4.4bn.

According to BBC news report, the entertainment company has announced its deal with the makers of Game of Thrones to compose a new Star Wars series. The  previous series was acclaimed as a grand success and the company has decided to bring the franchise back alive.

Decline in pay-TV subscriptions have encouraged Disney to also launch its very own online streaming service. In fourth quarter, Disney announced its proposal with director Rian Johnson to create TV shows based on Star Wars.

However, stiff competition requires strategic changes in terms of pricing and content. There are plans in the pipeline to offer its ESPN app at US$4.99 per month.

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