Disney's Streaming Service Will Cost 'Substantially' Less than Netflix

Disney's Streaming Service Will Cost 'Substantially' Less than Netflix

Disney's Streaming Service Will Cost 'Substantially' Less than Netflix

Netflix should be anxious here, as another streaming service means they're not only going to lose all Disney-owned titles, they'll also be battling another platform for new content.

The entertainment giant announced in August that it would remove all of its films and television programmes from Netflix in preparation for launching its own on-demand platform.

Shares of Disney rose more than 2% on Friday, reversing late losses from the night before after the company's management touted its plans for a new streaming service that will undercut rival Netflix on pricing. Not only will it include 4 to 5 original movies a year but there will also be a Star Wars live action series.

Fourth-quarter profit at Disney's cable TV unit, the company's single biggest profit contributor, slumped 1.2 per cent to $1.24 billion, hurt by weak advertising sales and higher programming costs for baseball and football at ESPN.

"As I've said earlier, we're going launch this thing pretty aggressively", he said on the call Thursday. Marvel's New Warrior could be one of the many series to come to the Disney streaming service. The show is expected to launch by the end of 2019.

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Mr. Iger also provided some information on pricing for the service, saying it will be "substantially below" that of Netflix Inc. because it will start with "substantially less volume". Deadline reports the company is developing new TV shows for their upcoming digital streaming service.

Management declined to comment on media reports that 21st Century Fox ( FOXA ) had explored a sale of most of itself to Disney, but some are wondering if Disney will look to bulk up its library of content even further as it seeks to attract viewers of its stand-alone service.

Now the streaming world is dominated by Netflix, Amazon and Hulu.

"In shepherding this new trilogy, which is separate from the episodic Skywalker saga, Johnson will introduce new characters from a corner of the galaxy that Star Wars lore has never before explored", DIsney said in a statement.

The Walt Disney Company has reported that Q3 operating income for its media networks segment dropped 12 per cent to $1.5 billion (€1.29bn) as multiple factors impacted earnings. An global version of the service might release before the USA launch, however, due to streaming rights. Apple committed to a two-season order of 20 episodes total of the untitled series that will center on the lives of morning TV news stars.

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