Disney Is Ending Its Netflix Deal, Will Launch Its Own Streaming Services

  • Disney Is Ending Its Netflix Deal, Will Launch Its Own Streaming Services

Disney Is Ending Its Netflix Deal, Will Launch Its Own Streaming Services

He added: "With this strategic shift, we'll end our distribution agreement with Netflix for subscription streaming of new releases beginning with the 2019 calendar-year theatrical slate". An ESPN branded sports streaming service will launch first in 2018, followed by the Disney-branded service in 2019. The company now has many agreements with Netflix which allows the latter to stream Disney movies, and the movies made by Disney's subsidiaries and collaborators - including Lucas Film's Star Wars franchise, and the Marvel films.

Netflix's exclusive agreement for Disney's movie titles in the U.S. began in September previous year.

Disney also said it would not release any new movies to the platform starting with its 2019 lineup, which includes the Frozen sequel, the live-action Lion King, and Toy Story 4, according to a company press release.

Disney's streaming service will offer movies from the Disney library, much like its Netflix deal, as well as Disney Channel, Disney Junior, and Disney X D films.

In order for the company to make these services happen, The Verge claimed that Disney will take a majority ownership of BAMTech for an amount of $1.58 billion.

Disney's after-hours stock price dipped more than 3 percent. It will use BAMTech's technology to launch direct-to-consumer streaming services for ESPN and Disney movies. What is Disney's new streaming service?

The ESPN service, for its part, will provide access to 10,000 sporting games and events annually, Deadline reports, including Major League Baseball (MLB), National Hockey League (NHL), and Major League Soccer (MLS). Netflix will also be making a "significant investment" in exclusive movies and original TV shows for the new platform.

Disney Chief Executive Robert Iger said buying BAMTech and its innovative technology gives the company the power to forge connections with viewers and the flexibility to adapt to changes in a market defined by direct relationships between content creators and consumers.