Bad news, consumer: here’s yet another streaming service you’ll have to pay for!
Disney announced on Tuesday that it has decided to launch its own streaming service intended to takeoff in 2019 starting in the U.S. and expanding globally. As a result, Mickey Mouse and his friends will end their distribution agreement with Netflix.
The new streaming platform, according to CEO Bob Iger, will include Pixar and Disney-branded content, as well as new original “television and motion pictures for just this platform”. However, Netflix won’t lose its Disney movies right away. Disney will end its distribution agreement with the streaming giant for new releases, beginning with the studio’s 2019 films. This means that movies due out in 2019, including Toy Story 4 and the Frozen sequel, will only be available on their own streaming service—not in Netflix.
However, the company is still internally “discussion and debating” arrangements with Netflix involving the Marvel and Star Wars franchises.
Aside from the new Disney streaming platform, the company will launch an independent ESPN streaming service as early as next year. The sports services will show some 10,000 events a year, from baseball, hockey, and tennis to college sports.
The loss of Disney’s library will be a big hit to Netflix. For starters, just hours after the announcement, Netflix shares were down more than 4%. According To CNCB, Wall Street might be worried that other Netflix partners could follow suit, especially if Disney is successful in move out as an individual player in the space.
Disney could have potentially killed our happiest place on… the internet.