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.



Shah Rukh Khan to Be Honored at Locarno Film Festival 

Bollywood actor Shah Rukh Khan in Mumbai on December 21, 2023. (AFP/Getty Images)
Bollywood actor Shah Rukh Khan in Mumbai on December 21, 2023. (AFP/Getty Images)
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Shah Rukh Khan to Be Honored at Locarno Film Festival 

Bollywood actor Shah Rukh Khan in Mumbai on December 21, 2023. (AFP/Getty Images)
Bollywood actor Shah Rukh Khan in Mumbai on December 21, 2023. (AFP/Getty Images)

Switzerland's Locarno Film Festival opens on Wednesday with Shah Rukh Khan, Jane Campion, Alfonso Cuaron and Irene Jacob set to be honored with special awards.

Founded in 1946, Locarno is one of the world's longest-running annual film festivals and focuses on auteur cinema.

Held on the shores of Lake Maggiore, in the Italian-speaking Ticino region of southern Switzerland, films are screened in Locarno's central square -- a feature of Swiss national life depicted on the country's 20-franc banknotes.

The open-air Piazza Grande holds up to 8,000 moviegoers, and films are shown on one of the largest screens in the world.

Bollywood superstar Khan, 58, will on Saturday be given the Pardo alla Carriera award for people whose artistic contributions have redefined cinema.

"The wealth and breadth of his contribution to Indian cinema is unprecedented," said the festival's artistic director Giona A. Nazzaro.

"Khan is a king who has never lost touch with the audience that crowned him. This brave and daring artist has always been willing to challenge himself."

The 77th festival, which runs until August 17, features 225 films, including 104 world premieres and 15 debut movies.

Locarno's top prize is the Golden Leopard. Previous winning directors include Roberto Rossellini, John Ford, Stanley Kubrick, Milos Forman, Mike Leigh and Jim Jarmusch.

Seventeen films -- all world or international premieres -- are vying for the award, including movies from Lithuania, France, Austria, Italy and South Korea.

The Golden Leopard comes with a prize fund of 75,000 Swiss francs ($87,400), shared between the director and the producer.

Switzerland's largest film event will feature a retrospective dedicated to the 100th anniversary of Columbia Pictures.

- 'Tortured, fascinating characters' -

New Zealand's Campion will be recognized with the Leopard of Honor, given to outstanding personalities of world cinema.

She was the first woman to be nominated twice for the best director Oscar: first for "The Piano" (1993) and then for "The Power of the Dog" (2021), which secured her the Academy Award.

"Her work, peopled with tortured, fascinating characters and marked by an astonishing skill in grappling with the more disturbing side of the human condition, represents one of the undisputed pinnacles of contemporary filmmaking," Nazzaro said.

Previous recipients include Ennio Morricone, Jean-Luc Godard, Bernardo Bertolucci, Paul Verhoeven, Terry Gilliam and Werner Herzog.

Mexican filmmaker Cuaron, who won the best director Oscars for "Gravity" (2013) and "Roma" (2018), will receive the lifetime achievement award.

"Cuaron has reinvented himself as an artist with each new film," said Nazzaro.

French-Swiss actress Jacob, who starred in "The Double Life of Veronique" (1991) and "Three Colors: Red" (1994), will receive the Leopard Club Award, given for film work touching the collective imagination.

Stacey Sher -- the US film producer behind "Pulp Fiction", "Get Shorty", "Gattaca", "Erin Brockovich", "Django Unchained" and "The Hateful Eight" -- will receive the Raimondo Rezzonico Award for major achievements in international movie production.

Nearly 150,000 people attended last year's festival.