Disney to part ways with Net­flix by 2019

Weekend Argus (Saturday Edition) - - FRONT PAGE -

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

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