Yet, the success of a single theatrical film, however welcome, is unlikely by itself to affect the company's willingness to invest large sums in the pay cable channel.ĭisney's initial 12 months in cable- program distribution have been a learning experience. ''Splash'' departs from Disney tradition by featuring partial nudity and strong language. Today, while the cable operation continues to drain the financial resources of the company, Disney is enjoying its first motion-picture success in years: the comedy ''Splash,'' produced under the new Touchstone label, which was created to appeal to the more sophisticated movie-going audience. Rather, Disney was placing its hopes for a brighter future on attracting to the home screen the sort of loyal following that seemed to have deserted it at the box office. For the Disney outfit, creation of its own cable network meant more than a simple extension of its existing business. With rumors of takeover attempts directed at the parent company adding to the drama, the stakes are high and the outcome still in doubt. Indeed, it continues to invest heavily in original programming and aggressive marketing so that the projected break-even point - a total of two million subscribers - may be reached by the summer of 1985. Despite a loss of $48.3 million in its first year (which, according to company executives, did not exceed their original projections), The Disney Channel, the only pay-TV network devoted entirely to family entertainment, is not curtailing its involvement in made-for-cable fare. Walt Disney Productions' high-risk venture into Cableland has begun its second year, as an audience now totaling 916,000 subscribers pays between $7.95 to $12.95 a month to receive the service. Steve Knoll frequently reports on the cable television scene.
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