Disney CEO Bob Iger Reveals New Details About Upcoming Streaming Service

Disney CEO Bob Iger Reveals New Details About Upcoming Streaming Service

Disney CEO Bob Iger Reveals New Details About Upcoming Streaming Service

Iger also said that there was no plan to merge or bundle together this new service with Hulu or its sports streaming service ESPN+. Every MCU movie now hosted on Netflix will be leaving the site, and the next film in the franchise, next March's Captain Marvel, will be the first to head directly to Disney's site instead of Netflix.

Content for the Disney service will include the first live-action Star Wars TV series, reportedly costing US$100 million for 10 episodes, and new episodes of the Star Wars: Clone Wars animated series. This service will rival Netflix, though Iger has said in the past that it will cost "significantly less" than Netflix.

There is still some time until Disney's streaming service launches and becomes huge, but it's going to happen an today's earnings call is evidence of it.

"... We're also moving forward with brand new Marvel content, and as I just noted, the Fox acquisition brings even more opportunity to create original programming for this [digital] platform", he added, promising to reveal more streaming details at an investor presentation in the near future. Now the trick for Disney is to make their homegrown streaming services appealing to their fans, and the general public, while still maintaining their current revenue levels from more traditional distribution.

Though a price for the upcoming entertainment service hasn't been set, Iger told analysts during a conference call that the price will reflect a lower volume of shows and movies. Old Disney movies and over 5,000 episodes of Disney television shows will fill out the service's offerings. But the Netflix competitor may be missing a big piece of that library when it launches in late 2019.

Due to syndication deals which are already in place, there will be some properties which won't be available at the launch of the streaming service.

Net attributable income rose 23% to $2.92bn (£2.25bn), or $1.95 per share, in the period ended 30 June, from $2.37bn (£1.83bn), or $1.51 per share, a year ago.

Total revenue rose 7 percent to $15.23 billion, but missed analysts' average forecast of $15.34 billion.

Revenue from the movie and TV production business jumped 20 percent to $2.88 billion (about Rs. 19,800 crores), boosted by a strong box office for "Avengers: Infinity War" and "Incredibles 2".

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