Disney removing their movies from Netflix
Aug 9, 2017 14:34:48 GMT
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Post by drwadadli on Aug 9, 2017 14:34:48 GMT
According to CNBC, Disney announced yesterday, August 8, 2017, that they intend to remove its movies from Netflix. In doing so, Disney plans to launch its own "direct-to-consumer" streaming service in 2019; first in the U.S. and then worldwide.
CEO Bob Iger told CNBC's Julia Boorstin Disney had a "good relationship" with Netflix, but decided to exercise an option to move its content off the platform. Movies to be removed include Disney as well as Pixar's titles, Marvel movies and Star Wars titles, according to Iger. Netflix said Disney movies will be available through the end of 2018 on its platform. Marvel TV shows will remain.
The new platform will be the home for all Disney movies going forward, starting with the 2019 theatrical slate which includes "Toy Story 4," "Frozen 2," and the upcoming live-action "The Lion King." It will also be making a "significant investment" in exclusive movies and television series for the new platform.
CMBC also reports that The Walt Disney Company will also launch its own ESPN video streaming service in early 2018. The platform, which will feature about 10,000 sporting events each year, will have content from the MLB, NHL, MLS, collegiate sports and tennis' Grand Slam events.
To power the services, Disney is buying a majority ownership of BAM Tech for $1.58 billion. Disney bought a 33 percent stake in the company, which was spun off from digital media company MLB Advanced Media, in August 2016.
"This represents a big strategic shift for the company," Iger said to CNBC. "We felt that having control of a platform we've been very impressed with after buying 33 percent of it a year ago would give us control of our destiny."
CEO Bob Iger told CNBC's Julia Boorstin Disney had a "good relationship" with Netflix, but decided to exercise an option to move its content off the platform. Movies to be removed include Disney as well as Pixar's titles, Marvel movies and Star Wars titles, according to Iger. Netflix said Disney movies will be available through the end of 2018 on its platform. Marvel TV shows will remain.
The new platform will be the home for all Disney movies going forward, starting with the 2019 theatrical slate which includes "Toy Story 4," "Frozen 2," and the upcoming live-action "The Lion King." It will also be making a "significant investment" in exclusive movies and television series for the new platform.
CMBC also reports that The Walt Disney Company will also launch its own ESPN video streaming service in early 2018. The platform, which will feature about 10,000 sporting events each year, will have content from the MLB, NHL, MLS, collegiate sports and tennis' Grand Slam events.
To power the services, Disney is buying a majority ownership of BAM Tech for $1.58 billion. Disney bought a 33 percent stake in the company, which was spun off from digital media company MLB Advanced Media, in August 2016.
"This represents a big strategic shift for the company," Iger said to CNBC. "We felt that having control of a platform we've been very impressed with after buying 33 percent of it a year ago would give us control of our destiny."
