Disney+ Takes Its Shot at 'Hamilton' Movie With Early Online Debut--Update
May 12 2020 - 1:12PM
Dow Jones News
By Erich Schwartzel
LOS ANGELES -- It'll be the living room where it happens.
Walt Disney Co. announced Tuesday it was fast-tracking the debut
of the Broadway juggernaut "Hamilton" to its Disney+ service, where
a filmed version of the blockbuster musical will begin streaming on
July 3.
Disney bought distribution rights to "Hamilton" earlier this
year, but hadn't planned to release it in theaters until October
2021.
Now "Hamilton" becomes the latest movie pushed to the service
amid the nationwide "stay-at-home" orders that have driven millions
of subscribers to Disney+. As the novel coronavirus outbreak closes
movie theaters and Disney theme parks, the streaming service --
launched only last November -- has been a bright spot for the
company.
Disney+ has more than 50 million subscribers, and the release of
"Hamilton" will likely boost those numbers. Disney executives are
focused on retaining those new subscribers, and a key way to do
that is regularly offering new shows and movies. The service faces
a shortage of new material at the end of this year, and the timing
of the "Hamilton" release coincides with when theaters are expected
to start reopening, potentially convincing consumers to end a
Disney+ subscription they picked up for the quarantine.
Other Hollywood studios have decided to bump movies to streaming
services since theaters have closed, but "Hamilton" is the
highest-profile example yet.
Disney paid $75 million for the rights to distribute the movie
in theaters, and box-office prognosticators expected it to be a
potential blockbuster. By pushing "Hamilton" to Disney+, the
company also avoids releasing it to theaters in what is shaping up
to be a crowded 2021 at the multiplex, as big-budget movies
postpone release dates.
Since its Broadway debut in 2015, the musical has won 11 Tony
Awards and the Pulitzer Prize for drama, and its cast recording
became the rare theater recording to cross over into mainstream
success.
Broadway theaters have been closed since March. The Broadway
League, which represents theatrical producers and owners, said
Tuesday that all shows would remain closed through Labor Day.
Since its debut, "Hamilton" has set box-office records at its
Broadway location and with the numerous touring productions that
were performing when the pandemic struck.
Years after its opening, tickets to the show still cost several
hundred dollars a pop -- at least until Broadway theaters
temporarily shut down -- making the prospect of seeing the show at
home especially appealing to consumers.
The version of "Hamilton" screening on Disney+ was filmed in
2016 with the musical's original cast, including creator Lin-Manuel
Miranda in the title role.
"Hamilton" also gives Disney+ a significant new offering to
market as its subscriber count climbs. The service faces a coming
programming crunch, as production on several high-profile shows
scheduled to debut later this year has shut down.
Another Disney movie planned for summer release, "Artemis Fowl,"
is skipping the theater and heading to Disney+ later this year.
Disney Executive Chairman Robert Iger has indicated more titles
will follow a similar route as theaters remain closed to new movies
until mid-July.
Among the studio movies postponed by the pandemic: a big-screen
adaptation of Mr. Miranda's previous Broadway show, "In the
Heights." That film, to be released by AT&T Inc.'s Warner
Bros., was supposed to come out this summer but will now hit
screens in June 2021.
Write to Erich Schwartzel at erich.schwartzel@wsj.com
(END) Dow Jones Newswires
May 12, 2020 12:57 ET (16:57 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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