Disney has announced that it has plans to compete with other online streaming services, including Netflix, in 2019 when they will launch their very own streaming service. Their streaming service will feature only their own original series and films.
The multi-media entertainment company’s CEO, Bob Iger, told Variety that becoming a competitor in the streaming service will be Disney’s “biggest priority” in 2019.
Offerings to feature on the platform include popular movies such as the Star Wars series, Black Panther and The Incredibles.
Yesterday #Incredibles2 became just the seventh animated film to cross the $1 billion mark at the global box office: https://t.co/Xv5w6qxbEh pic.twitter.com/HfMMDuCjSH
— Walt Disney Company (@WaltDisneyCo) July 31, 2018
Moving into the world of streaming will cost Disney a great deal – they will lose roughly $300-million in revenue from the current streaming rights agreement they hold with Netflix.
Disney is reportedly banking on the income and draw of upcoming long-awaited movies such as Captain Marvel, Dumbo, Toy Story 4, a live-action Lion King remake, Frozen 2, and a new Star Wars movie to counteract these losses.
The new Disney service will be named “Disney Play” and will have a far smaller offering than the current over 700 originally-produced titles that Netflix offers, but their draw card will be the substantially lower prices, between $8 – $14 monthly.
The service will also offer exclusive movie and TV series content.
The only Disney owned series expected to stick around on Netflix are the Marvel/Netflix Defenders shows, Daredevil, Jessica Jones, Iron Fist, Luke Cage and The Defenders.
Marvel Studios’ Black Panther is the third film ever to cross the $700 million mark at the domestic box office: https://t.co/uM771kZtJX pic.twitter.com/7j6Q4CkAcB
— Walt Disney Company (@WaltDisneyCo) August 6, 2018
Picture: Pixabay