Disney To Part Ways With Netflix And Start Own Steaming Service
Disney has announced it’ll be pulling its film content from Netflix’s library to start its own dedicated streaming service in 2019, a journey that begins today with the $1.58 billion acquisition of technology company BAMTech.
“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 Robert A. Iger, Chairman and Chief Executive Officer, The Walt Disney Company.
Disney plans to use its ESPN-branded multi-sport video streaming service in early 2018 before launching a Disney-branded direct-to-consumer streaming service in 2019.
According to Iger, “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.”
In preparation for the launch of their services, Disney says it will end its distribution agreement with Netflix for subscription streaming of new releases, beginning with the 2019 calendar year theatrical slate.
It’s understood that a number of Marvel’s television shows, such as, Jessica Jones and will continue to be available on Netflix.