New Disney TV Service Set To Be “Major Disruptor” In OZ
The launch of a new Disney streaming service could hurt local content providers with most major app providers including Apple getting access to the new service.
Some analysts claim that the Walt Disney’s service is a dream come true, for investors.
The entertainment company’s stock surged to new heights on Saturday after Disney released details of its new video streaming service, Disney+, including a price tag that dramatically undercuts rival Netflix.
The stock soared 12% to close up $13.43 a share to $130.06 — an all-time high. Shares of chief rival Netflix fell 4.5%, or $16.51, to close at $351.14 a share.
Apple new content streaming service which is set to struggle initially in Australia is also set to get the new Disney + streaming service despite Stan currently holding Disney rights in Australia.
According to Fetch CEO Scott Lorson who is currently in the USA the launch of the Disney streaming app will be a “major disruptor” in the Australian market with the battle now about” content and service”.
“The future is all about good service performance hardware and content” he said.
According to ChannelNews sources the Disney app which will compete head on with Netflix will go live on the 12th of November 2019 and is set to compete head on with Netflix and Foxtel as well as Stan who have not said what the terms of their current contract is with Disney.
The app is set to be made available via all traditional app distributors including Google and will be available on Samsung and LG as via Sony’s PlayStation and Xbox
Disney chief Bob Iger confirmed this in an interview with Bloomberg Television’s Emily Chang.
Disney didn’t make announcements about other platforms because they “haven’t made deals with all of them yet,” Iger said. He also suggested that he isn’t planning to step down from the Apple board despite the companies going head-to-head in streaming.
According to Bloomberg Iger was speaking on the Disney lot in the USA where the studio revealed plans for its streaming service as part of an investor day.
Apple last month unveiled a new service in a star-studded event in Cupertino, California. AT&T Inc. and Comcast Corp. will also lean on their Hollywood studios to fire up streaming services to take on Netflix, Amazon and Hulu.
Iger revealed that he was careful to recuse himself at Apple board meetings whenever the topic came up. He added that streaming “has not been discussed all that much” by the Apple directors, because it was relatively small and nascent.
“So far it’s been OK,” he said. “I’m in constant discussion about it.”
Some corporate governance professionals have said Iger’s Apple board seat could become a conflict of interest given the iPhone maker’s plans for a streaming service.
“I am mindful of my fiduciary responsibility to Apple shareholders as a member of the board,” Iger said.