Published: Thu, August 09, 2018
Culture | By Antonia Gonzales

Disney CEO Bob Iger Reveals New Details About Upcoming Streaming Service

Disney CEO Bob Iger Reveals New Details About Upcoming Streaming Service

As the mouse house prepares to consume the whole of 21 Century Fox (and its entire back catalog), it won't be long before "Disneyflix" is in a position to pull the plug on a chunk of the content already on Netflix.

U.S. regulators approved the deal in May. Disney parks and resorts reported yet another strong quarter, with revenue increasing 6% to $5.2 billion. Disney is reportedly in heavy negotiations with Turner broadcasting for rights to all Star Wars movies up through "Solo: A Star Wars Story". So, while Disney is now working on projects meant specifically for the streaming service, including an adaption of the novel Stargirl, the streaming service will make sure that fans understand Star Wars films released prior to 2019 will be unavailable.

In a statement, Iger said he was excited about "opportunities ahead for continued growth". With the Disney-branded entertainment service, Disney will have more control over its movies and TV shows from creation to distribution.

So does that give us more of an idea of when the streaming platform will hit?

This confirms what has been suspected all along, that the streaming rights would kick over for all of Disney's movies starting in 2019 and beyond.

On today's earning call Disney CEO Bob Iger said the streaming service would be the company's biggest priority in 2019. Rights to other properties will become available over time (with many Marvel Cinematic Universe movies moving from Netflix to the service next year).

Apart from Favreau's show, the previously cancelled Star Wars: The Clone Wars animated series is being revived for a seventh season that will debut on the service. After that, though, all future Marvel Studios superhero films will stream exclusively on Disney's still unnamed service.

Despite record-breaking box office performances from titles like "The Incredibles 2" and "Avengers: Infinity War", Disney's third-quarter earnings missed analyst projections, the company announced on Tuesday, reporting earnings of $1.87 per share.

Overall, Disney posted earnings of $1.87 per share excluding certain items, an increase from a year earlier, but below Wall Street's average forecast of $1.95, according to Thomson Reuters I/B/E/S.

The one business that saw a drop in revenue was also Disney's smallest segment, Consumer Products and Interactive Media. In after-hours training, Disney's stock fell 49 cents to $116.07 (roughly Rs. 8,000).

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