Disney ends partnership with Netflix, to launch its own streaming service
Disney to end partnership with Netflix (Source: YouTube) Photograph: (Others)
In what may come as a shocker to Netflix-Disney fans, you might not be able to stream any Disney movies on Netflix for long.
According to a statement issued by Robert A. Iger, Chairman and Chief Executive Officer of The Walt Disney Company: "Disney will end its distribution agreement with Netflix for subscription streaming of new releases, beginning with the 2019 calendar year theatrical slate."
Justifying the move, it said: "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. 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."
The media giant plans to launch an ESPN-branded multi-sport video streaming service in early 2018 and also a new Disney-branded streaming service that will be rolled out in 2019.
Disney confirmed that like its competitors, it will make "significant investment" in its original movies, TV shows and short-form content, adding that the service will feature the brand's vast and lengthy library of content, including Disney and Pixar movies and Disney Channel, Disney Junior and Disney XD television programming.
According to a statement on the Walt Disney Company's website, "The new Disney-branded service will become the exclusive home in the US for subscription-video-on-demand viewing of the newest live action and animated movies from Disney and Pixar, beginning with the 2019 theatrical slate, which includes Toy Story 4, the sequel to Frozen, and The Lion King from Disney live-action, along with other highly anticipated movies."
This move could prove to be a big blow for Netflix while spelling some trouble for others in the market like HBO Go, Amazon Prime and etc.