There will no longer be Disney movies streamed on Netflix by 2019. On Tuesday, Disney announced that it is ending its partnership with the entertainment company found in 1997.
Disney plans to create two streaming services. The first one will feature original movies and shows which will be available to the public in 2019, while the second one will focus on sports (ESPN) and is set to begin operation next year. Disney CEO Bob Iger stated that the launch of these platforms is a top priority for them.
To achieve this goal, Disney is spending $1.58 billion to get a 42 percent stake from the streaming company BAMTech. Before this, Disney already had a 33 percent stake after paying $1 billion in August of 2016.
Disney will soon own 75 percent of BAMTech, which previously belonged to MLB Advanced Media. Iger described the investment as a “big strategic shift.” He believes it is crucial to the company’s aim and it allows them to control their destiny.
For Creatv Media founder Peter Csathy, the impending split is a declaration of independence from Disney. He is convinced that Disney is capable of competing with Netflix.
“Netflix has a huge head start, but Disney thinks it can win. And Disney can feature the most valuable content library in the world,” Csathy added.
Some of the shows that can be expected from Disney’s future streaming platform are sequels to world-renowned animated films, “Frozen” and “Toy Story.” There is also an upcoming live-action adaptation of “The Lion King.”
Netflix Continues to Thrive
Even if Disney revealed its intention to be an independent streaming service provider, progress continues for Netflix. The company recently purchased Millarworld, which was founded by famous comic book writer Mark Millar.
The acquisition of Millarworld will soon lead to programming based on Millar’s creations. Millar is known for his time working under Marvel Comics. The 47-year-old is responsible for “Kickass” and “Wanted," hit comic book series which were made into movies.
There is other good news for Netflix aside from the addition of Millarworld. According to analyst Michael Olson, the company is projected to achieve significant success internationally. Olson predicted that the number of international subscribers could reach 100 million by 2020.
As of this moment, Netflix is closing in on having 104 million subscribers worldwide. In the second quarter of 2017, it listed 5.2 million new subscribers.
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