Disney is set to end its contract with
Netflix for the rights to their movies and TV shows starting in 2019.
Bloomberg has the announcement from Disney CEO, Bob Iger, who said the company will offer two new streaming services, one for movies and TV shows and the other for ESPN/Sports services.
The sport streaming services will start next year, with the entertainment streaming service beginning in 2019, as stated above.
“Our direct-to-consumer services mark an entirely new growth strategy for the company, one that takes advantage of the incredible opportunity that changing technology provides us to leverage the strength of our great brands,” Iger said in a statement.
Bloomberg points out that this, at least in the short term, will not be too hard of a hit for
Netflix. However, there is fear among investors that other movie studios will follow suit. Netflix issued their own statement on the news:
“U.S. Netflix members will have access to Disney films on the service through the end of 2019, including all new films that are shown theatrically through the end of 2018. We continue to do business with the Walt Disney Company on many fronts, including our ongoing relationship with Marvel TV.”
The biggest question to arise from all of this is: what will happen to the Marvel Netflix shows? As alluded to in the Netflix statement, Luke Cage, Iron Fist, Jessica Jones and Daredevil are staying right where they are. Says
Forbes,
"The waters of the entertainment business can be muddy, and contracts hard to figure out for the average viewer, but rest assured that the Disney theatrical distribution deal and the Marvel Television development deal are two separate things."
The Defenders will be the next Marvel Netflix show to feature on the streaming giant, and it will premiere on August 18, 2017.
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