Disney to create its own streaming service, Netflix deal to be over

Disney Netflix
Disney has revealed this week during its latest earnings reports that it has plans to stop its partnership with Netflix to focus on its own streaming service.

Consumers can expect to see the new Disney streaming service in 2019, and it will feature on-demand viewing of live-action and animated Disney and Pixar films. Of course, that means the company and Netflix’s distribution agreement will be finished at the beginning of 2019.

There were hints that Disney wanted to launch its own streaming service earlier this year. The company put in $1.58 billion, with it having the majority ownership of BAMTech, a company that deals with direct-to-consumer streaming technology and marketing services. It previously owned 33% of BAMTech, and this week it adds 42% to it.

“The media landscape is increasingly defined by direct relationships between content creators and consumers, and our control of BAMTech’s full array of innovative technology will give us the power to forge those connections, along with the flexibility to quickly adapt to shifts in the market,” said Bob Iger, Chairman and Chief Executive Officer at Disney. “This acquisition and the launch of our direct-to-consumer services mark an entirely new growth strategy for the company, one that takes advantage of the incredible opportunity that changing technology provides us to leverage the strength of our great brands.”

It was mentioned that the live-action Disney films will be included in the upcoming streaming service. Does this include Marvel and Lucasfilm since both are under the company’s umbrella? Currently, the service is focusing on mainly the Disney and Pixar films. Iger has mentioned that there were discussions for separating Marvel and Lucasfilm for different services. The decision of whether or not the two properties will join the service will be revealed later on.

What do you think of Disney pulling away from Netflix to create its own streaming service? Let us know know in the comments section below!

Via Inside the Magic

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John Nguyen
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