Iger added today that the new Disney service will also be the home to four exclusive films, along with between four and five TV series.
Walt Disney Co (NYSE:DIS) stock took a massive hit Thursday as its CEO revealed that its fiscal 2017 results will disappoint. Netflix had signaled it was in "active discussions" with the media giant to retain those streaming rights, but those efforts apparently never came to fruition.
Netflix now has over 100 million subscribers worldwide, but Disney's move to launch its own streaming service could be its biggest competitive threat yet. The more terrifying thought, though, is all the screaming children when they realize they suddenly can't watch Moana eight times a day.
The company plans to release two streaming apps, which will be Disney's foray into direct-to-consumer services.
This comes as Apple just announced a $1 billion investment in original movies and TV series, Amazon Studios is in the habit of producing/releasing Oscar contenders, and Netflix is ramping up its original content at an insane rate. Subscribers will be able to stream Disney's almost 500 movie catalog and 7,000 TV episodes, plus thousands of shorts, Deadline reported.
Successfully launching the new digital services is one of Mr. Iger's two top priorities in the remaining two years before his planned retirement in 2019, he said, along with lining up a successor for his own job.
We have more bad news for Star Wars and Marvel fans... Indeed: the "Kids" section of Netflix's service is probably in the biggest danger from this new Disney venture.