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Walt Disney postpones India launch of streaming service

AMERICAN entertainment conglomerate Walt Disney Co has delayed the March 29 launch of its Disney+ streaming service in India, where it was gearing up to open another front against global rival Netflix Inc.

The launch of Disney+ through its local partner Hotstar was timed to coincide with the beginning of the popular Twenty20 cricket tournament, the Indian Premier League, which has now been postponed until April 15 due to coronavirus fears.


California based company said in a statement: "Given the delay of the season, we have made the decision to briefly pause the roll-out of Disney+ and will announce a new revised premiere date for the service soon".

Disney controls Hotstar, which it acquired through the $71 billion purchase of Twenty-First Century Fox in 2019, and the new service would have given it access to hundreds of millions of potential subscribers.

Disney+ Hotstar will have two tiers of pricing, with the premium variant including original programmings like Star Wars TV series "The Mandalorian" and Marvel's "WandaVision" and "Loki".

The service, which debuted in the US on November 12, is expected to launch in Europe next week.

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IMF cuts global growth outlook as oil shock from Middle East war raises recession risks

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IMF cuts global growth outlook as oil shock from Middle East war raises recession risks

  • IMF lowers global growth forecast to 3.1 per cent from 3.3 per cent.
  • Severe scenario could see growth fall below 2 per cent, near recession levels.
  • Oil shock and supply disruption driving inflation and economic uncertainty.

The International Monetary Fund has lowered its global growth forecast, warning that the ongoing conflict in the Middle East and the resulting oil shock could push the world economy closer to a downturn if disruptions continue.

In its latest World Economic Outlook, the IMF now expects global GDP to grow by 3.1 per cent this year, down from its earlier estimate of 3.3 per cent. The revision reflects rising energy prices and uncertainty following the US-Israeli attack on Iran that began on February 28.

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