Disney to spend $5bn on TV, movies in Europe over next five years

Disney is planning to spend at least US$5bn on blockbuster movies and TV series in the UK and continental Europe over the next five years, according to its EMEA president Jan Koeppen.

Jan Koeppen

In an interview with the Financial Times published today, Koeppen said the US$5bn investment may not be more than Disney’s spend in Europe over the last five years, however, and could even be less, since the Mouse House spent around £3.5bn (US$4.5bn) in the UK alone in the previous five years.

Koeppen suggested the success of Marvel superhero film Deadpool & Wolverine, which was released in cinemas last month and achieved the highest-grossing opening for an R-rated film ever, may be a driving force for continued investment in the UK.

The film was produced in the UK’s Pinewood Studios and achieved almost US$900m in box-office revenues ahead of its third weekend.

Koeppen said Disney’s future investment would be across films, Disney+, National Geographic and other TV productions.

Four films are currently either being finished or scheduled for production at Pinewood. Work has just completed on Snow White and will be followed by The Fantastic Four: First Steps, The Roses and The Amateur, starring Rami Malek. A new Star Wars film is also planned.

Locally produced series for the UK coming up at Disney include an adaptation of Jilly Cooper’s novel Rivals.

Looking at other European markets, Koeppen hailed Spain as a centre of talent for TV and film production due to tax advantages and investments in infrastructure, but said France “restricts competition and consumer choice” with its “complicated and complex” local production quotas. The exec added that Disney is working with French authorities to see if the system can be “modernised.”