Have you, like me and many others, grown up on a pile of Disney movies? Well, if you thought that you could share the Disney love with your family via Netflix, think again. The giant recently announced that they would be pulling their shows and movies from Netflix by 2019.
This means that you won’t be able to watch your favourite Disney hits, including movies made by Pixar, on Netflix. Even though they share a great working relationship with Netflix, and have done well over the years with them, the animation giant has decided to step out on its own to get a bigger piece of the streaming pie.
In a move that is calculated to cut out the proverbial middleman, Disney plans to offer its own direct to customer streaming service in 2019. All the classic Disney hits will be exclusively available on its channel, and viewers can look forward to new 2019 releases like Frozen 2 and the live action remake of the hit movie Lion King.
Fortunately, for viewers who are addicted to Marvel films and the Star Wars series can give a big sigh of relief as these movies will still be available on Netflix. For now.
CEO Bob Iger announced that Disney would also be making all this possible by acquiring a larger share of BAMTech, a digital media company that would provide the power for streaming their content. By shelling out $1.58 billion, Disney would be increasing their stake in the company by 42%, making them majority stakeholders.
The chairman and CEO of the Walt Disney Company, Robert Iger, stated that this move would help Disney get the flexibility to adapt to the rapidly shifting market, one where streaming is gaining more prominence. The acquisition of BAMTech will take advantage of the changing scenario and make use of a great opportunity to leverage the Disney brand.
In addition to this, Disney also has plans in the pipeline to launch an ESPN streaming service in 2018, that would feature thousands of live games and sports events annually, including the NHL, Major League Baseball, Grand Slams, Major League Soccer and college sport events.
ESPN has been facing a barrage of problems, including higher programming costs, severance package expenses and lower ad revenues which have hit the sporting channel pretty hard. Disney may have dealt Netflix a harsh blow by making this move, as the loss of Disney content may be enough to cause a dent in the streaming service’s popularity.
While there have been many positive comments on this move, many are still sceptic about the idea of having another streaming service. There are many viewers who subscribe to various streaming services just to catch their favourite shows, which may not be available in others. With Hulu, Netflix, Amazon Video, Crackle and more already sharing the streaming pie, will Disney’s entry affect the performance of the overall picture?
Will Disney’s Fairytale move have a happy ending? Stay tuned to find out!