Disney has announced that it will end its distribution agreement with Netflix in 2019 and launch its own direct-to-consumer streaming service. The company has acquired majority ownership of BAMTech and will launch its ESPN multi-sport video streaming service early next year.
Disney acquired 33 percent stake in BAMTech for $1 billion last year and now it has bought additional 42 percent stake for $1.58 billion, making it majority owner of the software development company.
Beginning with 2019 calendar theatrical slate Disney will end its distribution agreement with Netflix for subscription streaming of new releases, announced the Walt Disney Company. Early next year, it will launch a rebuilt version of ESPN app, a multi-sport video streaming service that will offer a range of sports programming including live-streams of regional, national, and international sports events such as Major League Baseball, National Hockey League, Grand Slam Tennis, Major League Soccer, and college sports.
The app will also offer individual sports packages including MLB.TV, NHL.TV, AND MLS Live. It will also feature a news section, highlights, and live scores. “For many sports fans, this app will become the premier digital destination for all their sports content,” the company says.
“The media landscape is increasingly defined by direct relationships between content creators and consumers, and our control of BAMTech’s full array of innovative technology will give us the power to forge those connections, along with the flexibility to quickly adapt to shifts in the market,” said Robert A. Iger, Chairman and Chief Executive Officer, The Walt Disney Company.
Disney’s own direct-to-consumer streaming service will feature newest live action and animated movies from Disney and Pixar. You can access a variety of stuff which will be made available via the streaming service on paid subscription. Beginning with the 2019 theatrical slate, the app will feature movies like Toy Story 4, The Lion King from Disney live-action, and the sequel to Frozen apart from others.