Unlike Mickey Mouse Club’s “see you real soon” send off, Disney is saying so long Netflix! Disney has announced that the company will pull its films from Netflix and launch their own streaming service in 2019.
Not all the details about the streaming service are out as of yet but Disney CEO Bob Iger has reportedly said that Pixar or Disney-branded films will probably appear on the exclusive service. When it comes to Marvel and Star Wars, my guess is that those will also appear on the service but details on those franchises are still unclear at the moment.
Along with the streaming service coming soon, the Mickey Mouse company will also launch an ESPN streaming service as early as next year. ESPN also has their popular “30 for 30” documentary series on Netflix. The ESPN streaming service is anticipated to stream 10,000 sporting events over its TV networks.
Upon making the announcements Netflix stock went down 3 percent in after-hours trading.
Disney has seen a fall in revenue in ESPN, studio entertainment, consumer products and interactive media. Studio entertainment revenue is down 16 percent.
My guess is that these newly announced streaming services will not be too well received by Netflix costumers. With a growing streaming service industry, costumers will have to continue to pick and choose which services they would like to pay for more than ever.