Walt Disney Co has announced their own streaming service. They will move away from having their movies and programming on other streaming services like Netflix and Hulu. They believe they can compete with the likes of Netflix by offering their content exclusively on their new service. Netflix will have rights to much of the Disney movies through 2019 from their contract last year.
Disney has realized people are cutting the cord and moving away from traditional cable and satellite services. This has affected their bottom numbers. ESPN is not bringing in the income the Sports giant once did. Disney has already pushed for an ESPN pay streaming service to start next year. The Disney streaming service will follow.
CBS has already ventured out into their streaming service with CBS All Access. They have doubled down on a new Star Trek series to bring in subscribers. It is unseen what their success will be with this.
No matter CBS’s success or failure, Disney has an upper hand. Their movies, television series, and classic Disney productions have a huge draw. Just look at the Disney theme parks. They are not guaranteed success but if anyone can go toe to toe with Netflix, it is Disney.
(Via Reuters.com)
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