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Disney Reportedly to Spend $5 Bln in Europe, UK on New Blockbusters

FILE PHOTO: The logo of the Times Square Disney store is seen in Times Square, New York City, US December 5, 2019. REUTERS/Nick Pfosi/File Photo
FILE PHOTO: The logo of the Times Square Disney store is seen in Times Square, New York City, US December 5, 2019. REUTERS/Nick Pfosi/File Photo
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Disney Reportedly to Spend $5 Bln in Europe, UK on New Blockbusters

FILE PHOTO: The logo of the Times Square Disney store is seen in Times Square, New York City, US December 5, 2019. REUTERS/Nick Pfosi/File Photo
FILE PHOTO: The logo of the Times Square Disney store is seen in Times Square, New York City, US December 5, 2019. REUTERS/Nick Pfosi/File Photo

Disney plans to spend at least $5 billion in the UK and continental Europe over the next five years to produce blockbuster movies and TV shows, Jan Koeppen, its president across Europe, the Middle East and Africa, told Financial Times on Friday.

The company will commit about $1 billion a year in the region over the next five years across films, Disney+, National Geographic and other TV productions, Koeppen told FT.

Disney's plans could build on the recent success of films like "Inside Out 2" and the company's television business.

"Inside Out 2" notched $1.6 billion in global ticket sales and "Deadpool & Wolverine," which debuted in the current quarter, has brought in more than $850 million.

"We feel like we're really on a roll again with movies, which is fantastic,” Koeppen told FT.

Disney didn't immediately respond to a Reuters request for comment
Koeppen's comments follow Disney forecasting a 'moderation in demand' at its theme park business in coming quarters, pulling shares down 1.1% on Wednesday.

Koeppen leads Disney's EMEA business commercially and operationally in over 130 markets across the region, according to the company's website. His responsibilities include handling Disney+, motion pictures, television, content licensing and local original productions, the website showed.

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Oscar Voters Required to View All Films Before Casting Ballots 

Oscar statuettes appear backstage at the Oscars in Los Angeles on Feb. 26, 2017. (AP)
Oscar statuettes appear backstage at the Oscars in Los Angeles on Feb. 26, 2017. (AP)
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Oscar Voters Required to View All Films Before Casting Ballots 

Oscar statuettes appear backstage at the Oscars in Los Angeles on Feb. 26, 2017. (AP)
Oscar statuettes appear backstage at the Oscars in Los Angeles on Feb. 26, 2017. (AP)

Oscar voters will be required to demonstrate that they have watched all the films in each category before they cast their final ballots, the Academy of Motion Picture Arts and Sciences announced Monday.

The new rule, which addresses a longstanding concern that voters are skipping some films, will apply for the next Oscars ceremony in March 2026, the Academy said in a statement.

The Academy previously operated under an honor system that voters would see every Oscar-nominated film before casting their ballots.

However, with the number of nominees growing in recent years, some voters have admitted not fully fulfilling that duty.

Under the new system, Academy members will be tracked on the organization's voters-only streaming platform to make sure they have watched each film.

For movies seen elsewhere, such as in cinemas or at festival screenings, voters will be required to "fill out a form" vouching for when and where it was watched, according to the Hollywood Reporter.

For the Best Picture category alone, which has 10 nominated films, competing studios traditionally host glitzy events to woo voters during their awards campaigns, with parties, screenings and festival showings, sometimes followed by Q&A sessions with the stars and filmmakers.

The Academy also weighed in on a controversy that arose during the last voting season, which was marred by questions about the use of artificial intelligence in movies, such as "The Brutalist" and "Emilia Perez."

In guidance issued Monday, the Academy said AI and other digital tools will "neither help nor harm the chances of achieving a nomination."

The new rule clarifies that the use of technology is not disqualifying.

"The Academy and each branch will judge the achievement, taking into account the degree to which a human was at the heart of the creative authorship when choosing which movie to award."