The epic science opera “Star Wars: The Force Awakens” backed by Disney crushed the box-office within a short span after its release. The movie is reportedly said to cross US $1 billion worldwide which is the biggest amount in the history and records ever. But with so much money gained by the movie, there has been losses reported by the Disney as their stocks have fallen up to 6 percent after the premier.
The movie has got wonderful movie reviews and critics appraisal even though the stock prices have not improved which is a matter of concern for the media giant.
According to New Zealand Herald, the problem lies in paying the long-term amount to ESPN. The prices of the sports channel have been raising and it has become very costly to manage the channel as the amount payable to cable as compared is very low. The sports channel contract seems to be getting risky year by year, which is the root cause of downfall.
The sports channel ESPN is one alone business of Disney that was once the most profitable part of their business. It is reportedly said by Rich Greenfield, who is a BTIG Research analyst that this all is happening because of a rapid shift in consumer behaviour, which has made all the troubles for Dinsey making ESPN a problem now.
Though “Star Wars” is already over the mark of $ 1 billion as reported by Variety and irrespective of the massive success of “Star Wars” and good words are not helping Disney to pull up the stock prices. The media giant beings 45 percent of profit from cable TV which is expected to go down by next year because of less business in the television industry.
Picture Source: Star Wars: The Force Awakens/Facebook