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A third of the accounts are reported as active. Though the number has significantly risen from the company's report of 33 million subscribers in January, Studios revenue declined 0.6 percent to $2.4 billion in the first quarter and theatrical revenue dropped by 87.7%, while Content licensing revenue increased by 14.1%, primarily due to a new licensing agreement for content.

The executive will be responsible for all network operations, programming and strategy developments related to the company. He will also co-lead the recently merged theatrical, home entertainment and television distribution and marketing businesses.

The distribution deal covers theatrical releases set between 2022-2026. The titles will first be released in theaters, then available for rental or purchase and lastly on streaming services, starting with Netflix and ending with Disney and Hulu.

Despite a 73% year-over-year to $12 billion collapse in box office sales, it’s the first time the online video service industry has ever reached the figure. Altogether, the theatrical and home/mobile entertainment market has made over $80 billion.

The first teaser was presented at the Annecy International Animated Film Festival MIFA content market in 2017, and now the film is set to debut in theatres worldwide in 2022.