Entertainment giant, Disney is planning to invest $5 billion (£3.9 billion) in producing blockbuster films and TV shows in regions including the UK over the next five years.
The entertainment giant has reportedly been encouraged by the success of its superhero comedy Deadpool & Wolverine, which was filmed at Pinewood Studios in Buckinghamshire.
The recent release, starring Hugh Jackman and Ryan Reynolds, has topped box offices globally and has already earned 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 film’s popularity shows the genre “seems to have a lot of life left.”
He added: “We feel like we’re really on a roll again with movies, which is fantastic. I’ve been positive about people going to the movies again, and especially enjoying our movies.”
In addition to films, the funds will also be allocated to producing TV shows for the company’s streaming service Disney+ and the National Geographic network.
A Disney spokesperson informed Sky News that the planned annual investment of approximately $1 billion (£0.8 billion) is earmarked for the EMA region, covering Europe, the Middle East, and Africa.
However, the majority of these funds are anticipated to be directed towards the UK and mainland Europe.
Deadpool & Wolverine was filmed across several locations at Pinewood Studios, utilizing six stages and production areas, including the studio’s main boardroom.
Disney reportedly has four additional films either in production or slated to be made at the expansive site, including Snow White, The Fantastic Four: First Steps, The Roses, and The Amateur starring Rami Malek.
The company, which holds a long-term lease at Pinewood, has invested approximately £3.5 billion in UK productions over the past five years, resulting in 29 films and 23 TV series, and claims to have supported over 32,000 jobs.
Disney has also filmed many of its Star Wars projects in the UK, including the recent trilogy reboot and the Andor spin-off TV series.
According to the Financial Times, another film set within the sci-fi saga’s cinematic universe is also slated to be filmed at Pinewood soon.
This follows Disney’s announcement earlier this week that it had returned to profitability, largely due to the success of Inside Out 2, which has now become the highest-grossing animated film of all time.
The company also saw a boost as Disney+ reported its first-ever profit.
Executives revealed that the firm earned $254 million (£200 million) in profit before interest and tax from content sales and licensing in the quarter ending June 29.
However, Disney faced a decline in revenue at its U.S. theme parks and cautioned about potential “moderations in demand” in the coming months.