DIS Walt Disney Co

By Erich Schwartzel 

LOS ANGELES -- It'll be the living room where it happens.

Walt Disney Co. announced Tuesday it was fast-tracking the debut of the Broadway juggernaut "Hamilton" to its Disney+ service, where a filmed version of the blockbuster musical will begin streaming on July 3.

Disney bought distribution rights to "Hamilton" earlier this year, but hadn't planned to release it in theaters until October 2021.

Now "Hamilton" becomes the latest movie pushed to the service amid the nationwide "stay-at-home" orders that have driven millions of subscribers to Disney+. As the novel coronavirus outbreak closes movie theaters and Disney theme parks, the streaming service -- launched only last November -- has been a bright spot for the company.

Disney+ has more than 50 million subscribers, and the release of "Hamilton" will likely boost those numbers. Disney executives are focused on retaining those new subscribers, and a key way to do that is regularly offering new shows and movies. The service faces a shortage of new material at the end of this year, and the timing of the "Hamilton" release coincides with when theaters are expected to start reopening, potentially convincing consumers to end a Disney+ subscription they picked up for the quarantine.

Other Hollywood studios have decided to bump movies to streaming services since theaters have closed, but "Hamilton" is the highest-profile example yet.

Disney paid $75 million for the rights to distribute the movie in theaters, and box-office prognosticators expected it to be a potential blockbuster. By pushing "Hamilton" to Disney+, the company also avoids releasing it to theaters in what is shaping up to be a crowded 2021 at the multiplex, as big-budget movies postpone release dates.

Since its Broadway debut in 2015, the musical has won 11 Tony Awards and the Pulitzer Prize for drama, and its cast recording became the rare theater recording to cross over into mainstream success.

Broadway theaters have been closed since March. The Broadway League, which represents theatrical producers and owners, said Tuesday that all shows would remain closed through Labor Day.

Since its debut, "Hamilton" has set box-office records at its Broadway location and with the numerous touring productions that were performing when the pandemic struck.

Years after its opening, tickets to the show still cost several hundred dollars a pop -- at least until Broadway theaters temporarily shut down -- making the prospect of seeing the show at home especially appealing to consumers.

The version of "Hamilton" screening on Disney+ was filmed in 2016 with the musical's original cast, including creator Lin-Manuel Miranda in the title role.

"Hamilton" also gives Disney+ a significant new offering to market as its subscriber count climbs. The service faces a coming programming crunch, as production on several high-profile shows scheduled to debut later this year has shut down.

Another Disney movie planned for summer release, "Artemis Fowl," is skipping the theater and heading to Disney+ later this year. Disney Executive Chairman Robert Iger has indicated more titles will follow a similar route as theaters remain closed to new movies until mid-July.

Among the studio movies postponed by the pandemic: a big-screen adaptation of Mr. Miranda's previous Broadway show, "In the Heights." That film, to be released by AT&T Inc.'s Warner Bros., was supposed to come out this summer but will now hit screens in June 2021.

Write to Erich Schwartzel at erich.schwartzel@wsj.com

(END) Dow Jones Newswires

May 12, 2020 12:57 ET (16:57 GMT)

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