Disney's Streaming Budget Already Rivals That of Netflix

During Disney's (NYSE: DIS) fiscal fourth-quarter earnings call last month, CEO Bob Chapek told investors that the company planned to increase its content investments for Disney+ and its other direct-to-consumer streaming services

Now we know exactly how much he's planning to boost that spending.

In the company's annual 10-K filing with the SEC, management revealed plans to increase its content expenses by $8 billion for fiscal 2022 to $33 billion total. That includes content across the media empire, films, broadcast television, and the ultra-expensive sports rights at ESPN. Still, the majority of the increase will go toward streaming.

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Source Fool.com