The Last Jedi director Rian Johnson will be helming a new trilogy beyond the current series of films.
The news that spinoffs of the Netflix shows will remain separate from Disney's streaming service is crucial, as it holds the promise for series based on Heroes for Hire and Daughters of the Dragon.
"That is in part reflective of the fact that it will have substantially less volume".
A wicked hurricane season, falling advertising sales and a canceled movie sapped fourth-quarter profit at Walt Disney Co., leading to the first drop in annual results since the financial crisis nearly a decade ago.
We don't yet know how much Disney's planning to charge; all we know for now is that we'll be getting curated content at a price that undercuts Netflix. In addition to the "Star Wars" TV series, Disney is working on TV adaptations of Pixar's "Monsters Inc.", the Disney Channel's "High School Musical" franchise and an original series from Marvel.
This disclosure came on its earnings call to wrap up the company's fiscal year that closed September 30.
Total television revenue dropped 3% in the quarter to $5.47 billion and operating income fell 12% to $1.475 billion.
Company-wide, Disney reported lower revenue and profit for the fourth fiscal quarter. "It'll have a lot of high-quality content because of the brands and the franchises that will be on it that we've talked about". The higher results were due to global growth at Disneyland Paris and Shanghai Disney Resort, partially offset by domestic decreases, which were impacted by Hurricane Irma.
Disney is convinced that we're all going to make the migration though - so convinced that they are apparently spending over $300 million a year on this endeavour.
"We continue to believe Disney's IP will drive significant value over the next five years despite the decelerating pace of growth at ESPN and recent investments into direct-to-consumer products", wrote Piper Jaffray analyst Stan Meyers, calling Disney the "best positioned" to leverage its content amid a fragmented media terrain.
The news helped Walt Disney shares reverse a slide in extended trading Thursday.