Disney Speeds 'Hamilton' Release as Coronavirus Boosts Streaming

Disney is rolling out the film version of "Hamilton" more than a year early as Disney+ makes gains amid the coronavirus crisis.
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Walt Disney said it would release a film version of the blockbuster Broadway musical "Hamilton" on July 3.

The release will come 15 months earlier than originally planned.

Disney's stock price rose 0.12% to $107.90 a share as the entertainment behemoth announced the news on Twitter alongside "Hamilton" creator Lin-Manuel Miranda.

"It's only a matter of time ... Our Hamilton film. THIS July 3rd. On Disney+," Miranda tweeted.

The announcement comes as Disney battles with Amazon.com  (AMZN) - Get Report and an array of other competitors for share in the fast-growing streaming video market.

With its theme parks shuttered by the coronavirus, Disney is also in need of a boost as well, with the entertainment company announcing reservations are available for Walt Disney World theme parks and hotels starting July 1.

Disney stock has plunged 24% over the past three months, compared to the 13% decline for the S&P 500.

Disney previously had planned to release the film version of Hamilton in the fall of 2021, having reportedly shelled out $75 million for the distribution rights.

The film version of Hamilton was shot nearly four years ago, and features the musical's original stars, including Miranda as Alexander Hamilton.

Disney+ has been as bright spot for the entertainment company in a dark time, with Digital TV Research now predicting Disney's streaming service will have more than 202 million subscribers by 2025, according to The Hollywood Report.

That's up from Digital TV's previous estimate of 126 million and would make Disney second only to Netflix in subscribers by the middle of the decade.