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The studio is planning on revealing its own platform in 2019, after which Disney films and TV series will only be available to stream from there.
It is not decided as yet whether Marvel and Lucasfilm, which are both part of Disney Studios, will also be included in the service.
As the Guardian reports, Netflix’s shares fell four percent in after-hours trading after the news broke.
Although Disney’s streaming service is launching in the US, chief executive has described it as a “global service”. “The launch of our direct-to-consumer services marks an entirely new strategy for the company,” he said. “One that takes advantage of the incredible opportunity that changing technology provides us to leverage the strength of our great brands.
At first, the service will be family-oriented and will largely feature films and programmes from Pixar, Disney, the Disney Channel and Disney Junior. The studio has described the forthcoming service as the “exclusive home in the US for subscription video-on-demand viewing of the newest live action and animated movies from Disney and Pixar beginning with the 2019 theatrical slate.”
Earlier this week (August 7), Netflix announced they had purchased comic book publishing house, Millarhouse.
The comic-book publishers are best known for creating Kick-Ass and Kingsman, both of which have been made into highly successful film adaptations. The latter’s sequel, Kingsman: The Golden Circle, will be released on September 29th 2017.
The terms of the deal allow Netflix to “acquire intellectual property and ownership of stories featuring compelling characters.” Millarworld will continue to exist as a publisher and create new stories under the deal.
Netflix have established a reputation for creating successful TV show adaptions of comic-book stories, including the Marvel collaborations Jessica Jones, Daredevil and Iron Fist.