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Tuesday, August 8, 2017

The Gist

Disney is pulling all of its titles from Netflix to start its own streaming service

Posted By Jacob Galvin on Tue, Aug 8, 2017 at 4:37 PM

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Photo via Disney

Disney plans to pull all of its movies from Netflix, including such titles as Moana, Zootopia, The Pirates of the Caribbean: The Curse of the Black Pearl and many more.

Walt Disney Co. announced Tuesday afternoon that it intends to end its multi-year partnership and pull all of its movies from Netflix in order to launch its own branded direct-to-consumer streaming service in 2019.

In addition to a Disney streaming service, ESPN will also launch its own streaming service.

In a statement, Disney outlined their plans:

Under terms of the transaction, Disney will pay $1.58 billion to acquire an additional 42% stake in BAMTech—a global leader in direct-to-consumer streaming technology and marketing services, data analytics, and commerce management—from MLBAM, the interactive media and Internet company of Major League Baseball. Disney previously acquired a 33% stake in BAMTech under an agreement that included an option to acquire a majority stake over several years, and today’s announcement marks an acceleration of that timetable for controlling ownership.

"The new Disney-branded service will become the exclusive home in the U.S. for subscription-video-on-demand viewing of the newest live action and animated movies from Disney and Pixar, beginning with the 2019 theatrical slate," said a Disney representative.

There is currently no information on when exactly the movies will be pulled, but it will likely happen sometime before 2019.

If you have a Netflix subscription, start bingeing Air Bud: Seventh Inning Fetch, Air Bud: Spikes Back and Air Bud World Pup one more time, before it's too late.

This story is developing.

Tags: Netflix, Disney, streaming, movies, Image