Disney to remove its films and shows from Netflix

Disney to remove its films and shows from Netflix

Disney to remove its films and shows from Netflix

"We continue to do business with the Walt Disney Company on many fronts, including our ongoing deal with Marvel TV", said a company spokesperson.

Disney is also set to launch it's own ESPN streaming service in early 2018, which will feature 10,000 sporting events a year.

The pullout means new Disney movies on Netflix, such as "Moana" and "Rogue One", have a limited shelf life.

Disney is launching streaming services for both its movies and live sports, shaking up how it interacts with viewers as it navigates a changing media landscape.

But what's even more telling about the scale of Disney's streaming ambitions is the fact that the company now plans to end its distribution agreement with Netflix.

As part of the announcement, Disney also says they have purchased an additional 42 percent of BAMTech for $1.58 billion.

Disney announced in their latest earnings report that they intend to pull all its movies from Netflix.

Disney has chose to enter the streaming service game with plans to launch its own branded service in 2019.

The company have not yet revealed whether these plans will also include pulling Marvel films from Netflix, such as Iron Man and the Avengers and Lucasfilm films such as Star Wars and Indiana Jones.

Disney is launching its service in the U.S., but chief executive Bob Iger told analysts to think of it as a global service.

So following the footsteps of Netflix, Hulu, and Amazon, Disney too would be investing heavily to create its own original content. This is expected to be followed by a Disney-branded consumer streaming service that's current slated for a 2019 launch. "All new content, including "Toy Story 4", a sequel to 'Frozen", and a live-action adaptation of "The Lion King", will be available only on the new Disney subscription service.

The company said separately it posted a profit of $3.33 billion in the quarter ending July 1, a drop of nine percent from a year ago, on revenues unchanged from last year at $14.2 billion.

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