Asia Tech Wire (Aug 9) -- The Walt Disney Co. will invest at least $5 billion in the UK and Europe over the next five years to produce movies and TV programs, according to the Financial Times.

Jan Koeppen, president of Disney's EMEA region, revealed the investment plan in an interview.

Disney will spend about $1 billion a year on movies, Disney+, National Geographic and other TV productions, he said.

The company also plans to invest separately in other parts of its European business, including a €2 billion expansion of Disneyland Paris.

Koeppen noted that the success of the movie Deadpool and Wolverine shows that the superhero genre is still alive and well.