Disney has revealed today that it will be ending its partnership with Netflix in 2019 and removing its content from the online media streaming company, with an aim to launch its own streaming service.
It was only last year that Disney reached an exclusive partnership with Netflix to bring Disney, Marvel, Lucasfilm, and Pixar movies to the streaming platform. However, today the company has confirmed that its agreement will end with the 2019 calendar year theatrical slate, which includes highly anticipated films such as Toy Story 4 and the sequel to Frozen.
Disney’s Strategic Shift
Disney’s statement read, bringing Netflix’s stock price down by 3 percent:
With this strategic shift, Disney will end its distribution agreement with Netflix for subscription streaming of new releases, beginning with the 2019 calendar year theatrical slate.
This move is part of Disney’s broader strategy to capitalize on the growing trend of direct-to-consumer streaming services. By launching its own platform, Disney aims to have more control over its content distribution and create a more personalized experience for its audience. The new service is expected to feature a vast library of Disney classics, new releases, and exclusive content that will not be available on any other streaming platform.
Impact on Netflix and the Streaming Landscape
In an interview with Netflix, the company explained:
US Netflix members will have access to Disney films on the service through the end of 2019, including all new films that are shown theatrically through the end of 2018. We continue to do business with the Walt Disney Company globally on many fronts, including our ongoing relationship with Marvel TV.
While this announcement may seem like a significant blow to Netflix, the company has been preparing for such eventualities by investing heavily in original content. Netflix has already established itself as a powerhouse in the streaming industry with critically acclaimed series like “Stranger Things,” “The Crown,” and “Narcos.” The loss of Disney content, while notable, is unlikely to derail Netflix’s momentum.
Moreover, the streaming landscape is becoming increasingly competitive. Other major players like Amazon Prime Video, Hulu, and HBO Max are also vying for a share of the market. Disney’s entry into the streaming arena will undoubtedly intensify this competition, potentially leading to more innovative content and better services for consumers.
What to Expect from Disney’s Streaming Service
Disney’s new streaming service, which is expected to be called Disney+, will offer a wide range of content that appeals to various demographics. In addition to Disney’s extensive library of animated and live-action films, the platform will feature content from Marvel, Star Wars, and Pixar. This means fans can look forward to exclusive series and movies set in the Marvel Cinematic Universe and the Star Wars galaxy.
Furthermore, Disney+ is likely to include original programming that leverages its popular franchises. For example, there are already plans for a live-action Star Wars series and a Marvel series focusing on characters like Loki and Scarlet Witch. These exclusive offerings will be a significant draw for subscribers and could set Disney+ apart from other streaming services.
In conclusion, Disney’s decision to end its partnership with Netflix and launch its own streaming service marks a significant shift in the entertainment industry. While it presents challenges for Netflix, it also opens up new opportunities for Disney to engage directly with its audience. As the streaming wars heat up, consumers can expect a wealth of new content and innovative viewing experiences.
Source: Engadget
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