Streaming service has taken over the music industry with the launch of Apple Streaming, Tidal, Spotify and many more. While in the movies/tv world, Netflix dominates as the leading provider of this service. However, Disney has announced that they will be pulling out and looking to start their own streaming service.
Disney made this surprising annoucement during its latest earnings report on Tuesday. Given the companies global influence, you can expect a streaming service from them to do rather well. The service is expected to launch some time in 2019 starting in the United States and expanding globally soon after.
CEO Bob Iger explained that the decision did not come out of any conflicts with Netflix, but simply because the company wanted to test the option of putting all its content in one place – and given the amount of properties they own, which according to Iger would include Pixer’s titles, would make this a reasonable decision. Netflix has confirmed that Disney movies will sitll be avaliable till the end of 2018 and that Marvel TV shows will continue to remain as part of Netflix.
This new platform will give Disney the opportunity to release exclusive content and marketability for their 2019 theatrical slate which includes Toy Story 4, Frozen 2, and the live action adaptation of the 1994 classic The Lion King. Like Netflix and the upcoming DC Streaming Service (which will launch next year), you can expect Disney to be investing in exclusion movies and TV series for their new platform.
It has been revealed that Disney will be buying a majority ownership of BAM Tech ($1.58 Billion) to power their new services, which includes this service as well as an upcoming ESPN video streaming service in 2018.
It’s worth noting that since the announcement of their parting ways with Netflix, the latter’s stock has dropped more than 5 percent. While this probably wouldn’t affect the service long term, as long as they continue to put out strong content, it might affect some of the current Netflix shows.
It’s unclear as of now how this move will affect the Marvel TV shows on Netflix, but with the confirmed renewed seasons for all four Defenders, it is unlikely that they will be going anywhere anytime soon.