No, Your Favorite Disney Movies Aren't Leaving Netflix Yet


Disney is down 5.42% ahead of Monday's opening bell after the company reported mixed quarterly results and saying it will stop streaming its new releases on Netflix beginning in 2019.

"Ultimately, we envision this will become a dynamic sports marketplace that will grow and be increasingly customizable, allowing sports fans to pick and choose content that reflects their personal interests", Iger said.

In case anyone doubts whether Disney can win the two-front battle against cord cutters and other streaming services, CEO Iger expressed the company's view to analysts.

Disney also announced it will launch its own streaming services, and plans to acquire a majority stake in BAMTech, a major streaming and marketing service.

The new Disney platform will feature all Disney movies including the 2019 releases, which means subscribing to this new service will get you access to "Toy Story 4", "Frozen 2", and the upcoming live-action version of "The Lion King". This includes Major League Baseball, National Hockey League, Major League Soccer, Grand Slam tennis and college sports.

The ESPN streaming service, that'll arrive first, will be part of the already existing ESPN app and will offer an array of sports coverage with around 10,000 live regional, national, and worldwide games and events per year across all sports.

"We're very proud of the content distribution innovations driven by MLBAM and BAMTech over the past 15 years", Major League Baseball commissioner Rob Manfred commented.

The BAMTech transaction is subject to regulatory approval.

The announcement came as Disney reported a near 9 percent fall in quarterly profit, pulled down by higher programming costs and declining subscribers at ESPN, as viewers ditch costly cable packages in favor of cheaper online offerings. "Yet, we've merely scratched the surface of what can be accomplished in a future where we combine Disney and ESPN's world-class [intellectual property] and our proprietary direct-to-consumer ecosystem". Through a partnership with Discovery Networks, BAMTech Europe will provide technology services on the continent, including Eurosport's digital products.