Disney says its new streaming service won't rival Netflix

09 August, 2018, 01:58 | Author: Kristopher Anderson
  • Disney's upcoming streaming service could contain a 10-episode, $100 million Star Wars show

Fox Searchlight, which received 20 Academy Award nominations a year ago and won best picture for "The Shape of Water", will also be given additional resources, Iger said. Apparently there are only three more Marvel movies (all 2018 releases) heading to Netflix: Black Panther, Avengers: Infinity War, and Ant-Man and the Wasp.

The streaming service is set to launch in 2019 with several programs, including a "live-action version" of "Lady and the Tramp", as well as a live-action "Star Wars" series directed by Jon Favreau that will cost about $100 million for 10 episodes. It is on the verge of gaining new film, television and global properties in a $71 billion purchase of assets from Twenty-First Century Fox Inc (FOXA.O).

Walt Disney Co (DIS.N) missed Wall Street profit targets as new technology costs rose during the quarter ended June 30, but Chief Executive Bob Iger said an exodus of consumers from its television channels was slowing.

Disney anticipates incorporating content from all of its brands into the new service, including Jim Henson's The Muppets, Pixar, Marvel, Lucasfilm, and National Geographic, the latter of which will also come to Disney through the Fox purchase. The studio entertainment division provided much of the uplift, with revenues growing 20% to US$2.9 billion. We know the Disney movies remain on the service for a year and a half, but will that time period be cut short by the launch of the competing service?

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According to the earnings call, the new Disney streaming service will be cheaper than Netflix.

Launching the streaming services is Disney's biggest priority next year, Iger said.

Users can expect to find some recent theatrical releases like Captain Marvel and the live-action remake of Dumbo (both releasing in March of 2019), as well as some original programming for the streaming service like Anna Kendrick's upcoming holiday film Noelle and a High School Musical series. Disney is reportedly in heavy negotiations with Turner broadcasting for rights to all Star Wars movies up through "Solo: A Star Wars Story". The average estimate of four analysts surveyed by Zacks Investment Research was for adjusted earnings of $1.97 (roughly Rs. 133) per share.

The one business that saw a drop in revenue was also Disney's smallest segment, Consumer Products and Interactive Media.

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