FT News Briefing Disney vs France
Oct 18, 2022
US stocks are on the rise thanks to strong earnings from major banks. Meanwhile, the UK chancellor has scrapped controversial tax cuts to stabilize the economy. Disney is in a standoff with France, warning that its future blockbusters might skip theaters due to strict local regulations. The clash centers on French cultural policies, which complicate Disney's release strategies amid a shifting media landscape. What does this mean for the future of cinema in France?
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Market Rally
- Wall Street stocks rallied, driven by strong bank earnings, especially Bank of America's.
- This positive report boosted investor confidence in the U.S. consumer.
UK Policy U-Turn
- New UK chancellor Jeremy Hunt reversed most planned tax cuts, stabilizing markets.
- However, he also cut energy price protections, impacting struggling Brits.
Disney vs. France
- Disney agreed to release "Black Panther: Wakanda Forever" in French cinemas, resolving a dispute over France's film distribution system.
- Disney, however, warned that future blockbusters may bypass French theaters and go straight to streaming.