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10 August 2017, 03:39 | Erma Lawrence
Disney CEO Bob IgerVCG Getty Images Earlier on Tuesday Disney announced it's breaking up with Netflix
The end of the deal between Disney and Netflix marks a short run for the streaming service, which said in 2016 that it would be the exclusive home for Disney movies, including content from Disney-owned companies like Marvel and Pixar. Disney is promising about '10,000 live regional, national, and worldwide games and events a year, ' with individual sports packages available as well, .
The media conglomerate said it will launch an ESPN-branded multi-sport video streaming service in early 2018, followed by a new Disney-branded direct-to-consumer streaming service in 2019, powered by BAMTech. Here are a few Billboard hopes to see on Disney's new Netflix-like service.
"For many sports fans, this app will become the premier digital destination for all their sports content", Disney said in its announcement.
"US 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".
The new service will be based on technology provided by video-streaming firm BAMTech, the company announced it would pay $1.58bn to buy an additional 42 per cent stake in the company which it took a minority stake in past year.
Disney movies that are now on Netflix will be available for streaming through the end of 2019. Now, Disney will pay $1.58 billion to acquire an additional 42 percent stake. The 2019 theatrical slate includes "Toy Story 4", a "Frozen" sequel and "The Lion King" live-action remake.
Disney's streaming service will be built off technology from BAMTech, the MLB-founded video streaming platform. It also will include collegiate sports and Grand Slam tennis coverage.
"We're very proud of the content distribution innovations driven by MLBAM and BAMTech over the past 15 years", Major League Baseball commissioner Rob Manfred commented. "Additionally, the service will feature a vast collection of library content, including Disney and Pixar movies and Disney Channel, Disney Junior and Disney XD television programming", the release reads. The acquisition still requires regulatory approval.
Disney is down 2.9% this year including the post-earnings drop.
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