Disney To Pull Movies From Netflix And Start Own Streaming Service!

In a sudden turn of a events, Disney has announced today during a earnings report that it will remove its films from Netflix.

Disney plans to launch a branded direct-to-consumer streaming service that will start in the US, leading up to a global expansion in 2019. CEO Bob Iger told CNBC reporter Julia Boorstin that Disney had a “good relationship” with Netflix, but decided to exercise an option to move its content off the platform. Disney is also buying a majority ownership of BAM Tech for $1.58 billion to help build their streaming platforms.

The announcement of the removal of current Disney films (including Marvel Studios) from Netflix has caused a drop of 5% on Netflix’s stock. What are your thoughts on this? Are you surprised due to the deal Disney signed not so long ago with Netflix? Let us know in the comments!

Source: CNBC

About Post Author

Skyler Shuler

In 2013, Skyler Shuler wanted to share his knowledge of Disney films and the magic behind the scenes. So, he created the Instagram account Disney Film Facts and the page quickly garnered a following. Soon after a Twitter was created, and not long after that DisneyFilmFacts.com was born. The page has been lucky enough to garner a wonderful following of such amazing Disney and movie fans, as well as been sourced in some of the biggest entertainment sites in the world. In 2018, the page was rebranded to The DisInsider, and the rest was history!

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