Disney plans to spend US$5 billion in regions including the United Kingdom after the success of Deadpool and Wolverine | Business News

Disney plans to spend $5 billion (£3.9 billion) on producing blockbuster films and TV shows in regions such as the UK over the next five years.

The entertainment giant is said to have been boosted by the success of its superhero comedy Deadpool & Wolverine, made at Pinewood Studios in Buckinghamshire.

The recent release, starring Hugh Jackman and Ryan Reynolds, topped the box office worldwide and has so far made more than £33 million in the UK and Ireland alone, according to trade magazine Variety.

The company’s regional president, Jan Koeppen, told the Financial Times that the title’s popularity demonstrates that the genre “seems to still have a lot of life in it.”

He added: “We feel like we are really back at the cinema, which is fantastic. I’m sure people will go to the cinema again and especially like our films.”

In addition to films, the money will also be spent on TV shows for the company’s streaming platform. Disney+ and National Geographic Network.

Planned investment of around $1 billion (£0.8 billion) per year has been allocated to the EMA (Europe, Middle East and Africa) region, a Disney spokesperson told Sky News.

However, most of the money is expected to be spent in the UK and continental Europe.

Deadpool & Wolverine was filmed at several locations in Pinewood, including six of its stages and production spaces such as the studio’s main meeting room.

Disney reportedly already has four films in production or scheduled to be made at the sprawling location, including Snow White, The Fantastic Four: First Steps, The Roses and The Amateur starring Rami Malek.

The company, which has a long-term lease at Pinewood, has spent around £3.5 billion on UK productions over the past five years, including 29 films and 23 television series, and says it has supported more than 32 thousand jobs.

He also filmed many of his Star Wars productions in Britain, including the recent trilogy reboot and Andor spin-off TV show.

Another film set in the sci-fi saga’s cinematic universe will also be filmed in Pinewood soon, the FT reported.

It comes after Disney revealed earlier this week that it had returned to profit following the success of its recent release, Inside Out 2, which became the highest-grossing animated film of all time.

The company was also boosted by Disney+ profit for the first time.

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Executives reported that the company made $254 million (£200 million) in earnings before interest and tax from sales and content licensing during the quarter ended June 29.

However, Disney also suffered from a drop in revenue from its theme parks in the US and warned of “moderation in demand” in the coming months.