Disney to part ways with Netflix by 2019
DISNEY will pull its films off Netflix when it sets up its streaming service.
The entertainment giant plans to launch a branded service in 2019, initially in the US, intending to roll it out globally.
Alongside the service, which will become home to future Disney blockbusters like Toy Story 4 and Frozen 2, the firm will also launch its own ESPN video streaming service. The sports service, slated for launch in early next year, will feature around 10 000 events a year.
To power the service, Disney intends to buy a majority stake in the sports media firm Bam Tech for around £1.2 billion.
The shock news was met with scepticism by Walt Disney investors, with shares falling nearly 4pc. Netflix shares fell by nearly 2pc.
Analysts at Liberum said the potential effects of Disney’s move on the pay-TV industry were “huge” and could lead the sector to be broken up if other providers follow suit. – Daily Mail