The Walt Disney Company has announced the name of its forthcoming streaming service. Together with this disclosure are related information regarding what the new venture will entail.
Based on the report, Disney’s direct-to-consumer streaming service will be named “Disney Play.” Robert Iger, the company’s chief executive officer, confirmed that it would be one of the entertainment company’s most significant and largest offering next year.
He has recently informed the public that Disney Play will not directly be in a contest with Netflix, but will be concentrating on providing quality original content to its consumers.
In response to the dominance of mainstream service provider, Netflix, Disney Play will put an end to the streaming giant’s capability to give its customers TV shows and movies that are under the company’s auspices.
Among these are upcoming movies in 2019 reported as selling points for the streaming service like “The Lion King,” “Captain Marvel,” and “Star Wars: Episode IX.” “Frozen 2,” “Dumbo,” and “Toy Story 4” is also included in the coming year’s film releases.
Given this development, Disney is reported to be closing its doors to roughly $300-million worth of yearly revenue which it currently gains from Netflix due to the pay-TV rights for its movies.
This provision encompasses movies of Star Wars, Marvel Cinematic Universe, and a huge lineup of 20th Century Fox movies. Marvel Cinematic Universe’s last film which will be viewable for Netflix is “Ant-Man and the Wasp” which was released in July.
There is no news yet regarding the implication of this development for the Marvel Netflix content. Furthermore, the streaming service is reported to be powered by BAMTech which the company acquired controlling ownership early this month.
For $1.58 billion, Disney gained an extra 42 percent stake in the leading international direct-to-consumer streaming technology. BAMTech is also a service provider of commerce management, marketing, and data analytics.
Together with the streaming service, it also plays a key role in the company’s ESPN-branded multi-sport video streaming service introduced early this year.
Other details about the streaming service include being more affordable than Netflix, though the actual subscription fee is yet to be announced.
When it premieres in 2019, Disney Play is anticipated to provide a wide array of family-oriented content. In a statement made early this month, Iger expressed his excitement for the opportunities contributing to the company’s relentless growth.
This is amid the entertainment giant’s recently concluded multi-billion-dollar acquisition of 21st Century Fox’s entertainment assets which is reported to boost Disney Play.