Disney Will Be Ending Its Relationship With Netflix in 2019
Disney is ending its relationship with Netflix. No new releases will be on platform after 2019.
Disney is planning on launching a streaming service of their own in 2019. It also said Tuesday that ESPN will be launching a streaming platform next year. In related news to starting their own streaming service. The Walt Disney Company acquired and additional 42% of BAMTech, the streaming technology company for $1.58 billion (They previously acquired a 33% stake back in 2016.). BAMTech is currently building ESPN's streaming service. ESPN's streaming service will feature content from the MLB, MLS, NHL, tennis' Grand Slam events, and collegiate sports.
Disney owned Marvel content on Netflix will not be pulled. Disney CEO Bob Iger called the recent developments "a strategic shift in the way we distribute our content." Disney will be making a significant investment in exclusive movies and television series for its platform.
The new Disney streaming platform could change the game. Disney owns ABC, Marvel, Star Wars, and has countless properties. Not to mention their current and future catalog is stacked. This is definitely a huge blow to Netflix. Netflix stock has dropped since the news.
Source: CNBC
