Disney To Remove All Content Off Netflix!

Disney To Remove All Content Off Netflix!

Disney To Remove All Content Off Netflix!

CNBC reports that Disney will be pulling their content from Netflix, and they will be launching their own streaming service, set to premiere in 2019. But, segment operating income declined 10%, mostly because of a 23% decline in operating income at cable networks like ESPN and the Disney Channel. That's a lot of entertainment to mine with over 70 years of movies and TV shows the company can now put into its own Mouse House.

Disney, which also owns the ABC television network, said its consumer channel would include its Disney and Pixar movies and content from the Disney Channel, Disney Junior and Disney XD. According to Disney CEO Bob Iger, the company is still considering how it wants to bring Marvel and LucasFilm titles to consumers. Starting with 2016 feature films, Netflix became the exclusive subscription service for Disney's new releases, including films from Pixar and Marvel Studios.

The change of heart comes as Disney sees a need to take the industry, now dominated by Netflix, head-on.

But I can tell you how Disney's streaming service could succeed.

The previously announced ESPN service will be "more robust than the one we had anticipated", according to the company, and will include "approximately 10,000 live regional, national, and worldwide games and events a year, including Major League Baseball, National Hockey League, Major League Soccer, Grand Slam tennis, and college sports".

Some Twitter users expressed frustration with losing access to their favorite Disney movies on Netflix. With the company's $1.58 billion investment in streaming technology infrastructure provider BAMTech, which gave it a controlling interest, it's able to go where the market takes them when it comes to streaming.

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The Disney service will be the only place where US viewers can watch new live action and animated movies from Disney and Pixar, including "Toy Story 4", the "Frozen" sequel and "The Lion King" live-action movie.

Netflix had and lost Disney content before, in 2011, which it was receiving it via a deal with Starz. Subscribers will also have access to a vast collection of films and television content from our library.

"We continue to do business with the Walt Disney Co. globally on many fronts, including our ongoing relationship with Marvel TV", Netflix said in a statement released to the media.

Shares of both Netflix and Disney were down 4% in premarket trading Wednesday on the news.

While there aren't many details about Disney's direct-to-consumer service-including cost, what it will look like, or what will happen with Marvel and "Star Wars" content-some analysts are optimistic on the services potential, mainly because of its content.

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