When it comes to streaming video, there is a huge pie and everyone wants a piece of it. Disney already has a nice piece that they mainly share with Netflix, but today's (August 8) announcement shows they want the whole thing for themselves.
Today the company said they intend to remove all of it's movies from Netflix. Disney is doing this in preparation for their very own branded streaming service that they plan on launching in 2019. The goal is to start in the United States then expand the service globally.
While talking to CNBC's Julia Boorstin, Disney CEO Bob Iger explained that despite the decision to remove the content from the provider, they still have a "good relationship" with Netflix. Movies that will be removed include all Disney and Pixar titles. The Disney movies will remain available on the platform through the end of 2018. Marvel branded TV show such as "Daredevil," "Luke Cage" and "Jessica Jones" will remain with Netflix.
Disney's new platform will be the home for all Disney movies going forward, starting with 2019 releases including "Toy Story 4," "Frozen 2" and the live-action "Lion King." They will also be adding exclusive movies and TV shows to the planned service.
Disney also announced plans on launching an ESPN streaming service in early 2018. This will reportedly feature close to 10,000 sporting including content from MLB, NHL, MLS,. NCAA and tennis.
Netflix stock dropped more than 5 percent after the Disney news came out.