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Disney Informs Content Production Delays As Contagious Delta Variant Surges

By John F. Heerdink, Jr.

As per reports, Walt Disney (DIS) Co-Chief Executive Officer Bob Chapek raised concern over delay in the production of some of its titles, caused by the resurgence of the Delta variant of the coronavirus. Shares of the company dropped after the statement, which was already hit hard by the coronavirus pandemic as theme parks and movie theaters remained shut.

“Our TV group has hundreds of new programs in production, but the resurgence of COVID and Delta did impact some of our productions so that we’ve got a lighter product quarter in Q4 than we might have expected,” stated Chapek at the Goldman Sachs Communacopia Conference.

COVID-driven production delays were seen globally, which in turn were affecting the supply of new content, but the issues were short-term, Chapek added. Launched in November 2019, Disney+ has witnessed consumer growth but the competition is intensifying with new entrants including Apple and Netflix joining and investing in producing more programs.

Dow 30 Component, The Walt Disney Company (DIS), and its subsidiaries is a diversified worldwide entertainment company that operates in four business segments: Studio Entertainment, Media Networks, Parks and Resorts, and Consumer Products & Interactive Media. To learn more about this Dow 30 Component, The Walt Disney Company (DIS), and to continue to track its progress please visit the Vista Partners Walt Disney Company, Coverage Page.

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(Read Original Story: Disney's Chapek says program production delayed as Delta variant spreads in Reuters)


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