Disney plans to spend $5bn (£3.9bn) on making blockbuster films and TV shows in regions including the UK over the next five years.
The entertainment giant is said to have been buoyed by the success of its superhero comedy Deadpool & Wolverine, which was made at Pinewood Studios in Buckinghamshire.
The recent release, starring Hugh Jackman and Ryan Reynolds, has topped box offices around the world and has so far made more than £33m in the UK and Ireland alone, according to trade magazine Variety.
The company’s regional president Jan Koeppen told the Financial Times the title’s popularity demonstrated the genre “seems to have a lot of life left”.
He added: “We feel like we’re really on a roll again with movies, which is fantastic. I’ve been positive about people going to the movies again, and especially enjoying our movies.”
As well as films, the cash will also be spent on TV shows for the firm’s streaming platform Disney+ and National Geographic network.
The planned investment of around $1bn (£0.8bn) a year has been allocated to the EMA region (Europe, the Middle East and Africa), a Disney spokesperson told Sky News.
However, most of the money is expected to be spent in the UK and mainland Europe.
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Deadpool & Wolverine was filmed across multiple locations at Pinewood, including six of its stages and production spaces such as the studio’s main boardroom.
Disney reportedly already has four films either in production or scheduled to be made at the sprawling site, including Snow White, The Fantastic Four: First Steps, The Roses, and The Amateur starring Rami Malek.
The company, which has a long-term lease at Pinewood, has spent around £3.5bn on productions in the UK over the past five years, including 29 films and 23 TV series, and claims to have supported over 32,000 jobs.
It has also shot many of its Star Wars productions in Britain, including its recent trilogy reboot and Andor spin-off TV show.
A further film set in the sci-fi saga’s cinematic universe is also set to be shot at Pinewood soon, the FT reported.
It comes after Disney revealed earlier this week it had returned to profit following the success of its recent release Inside Out 2, which became the highest-grossing animated film of all time.
The company was also boosted by Disney+ making a profit for the first time.
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Executives reported the firm made $254m (£200m) in earnings before interest and tax from content sales and licensing during the quarter ending 29 June.
However, Disney also suffered from a fall in revenue at its US-based theme parks and warned of “moderations in demand” in the coming months.
Source : Sky News
