Marvel Cinematic Universe getting snapped away from Netflix

Sergio Cunningham
August 8, 2018

Disney owns ESPN, Marvel, 21st Century Fox, ABC, and Star Wars, and they intend to bring aspects of those properties to their new service.

Walt Disney Co (DIS.N) missed Wall Street profit targets as new technology costs rose during the quarter ended June 30, but Chief Executive Bob Iger said an exodus of consumers from its television channels was slowing. Also, tv show spinoffs for Lady and The Tramp, Monsters Inc.

But Iger said that movies Disney plans to release in 2019, including "Captain Marvel", "Dumbo", "Toy Story 4" and "Frozen 2", won't be encumbered by licensing deals and can go straight to the service soon after their theatrical releases.

"'Star Wars' is a big world, and Disney's new streaming service affords a wonderful opportunity to tell stories that stretch out over multiple chapters", Favreau said.

The company plans to launch its own streaming service for family entertainment in late 2019. For now, Disney has sold the rights to these movies to places like Netflix. While Disney owns numerous strongest brands in the entertainment industry, the service will also take into account its lower volume of content for the service's yet to be revealed price point.

Apart from Favreau's show, the previously cancelled Star Wars: The Clone Wars animated series is being revived for a seventh season that will debut on the service.

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It's up to brewers to actually pass down the savings of $1 beer to consumers. "Promises made, promises kept", Ford said.

Shares of Disney, which have climbed almost 9 percent so far this year, slipped 1.1 percent in after-hours trading on Tuesday to $115.45.

Disney shares slipped $1.06 in after-hours trading, to $115.50.

Disney's movie studio enjoyed blockbuster success with "Avengers: Infinity War" and "The Incredibles 2". Disney's television networks also saw gains, including at ESPN, despite the higher National Basketball Association costs and lower advertising revenue.

Revenue rose 7 percent to $15.23 billion - also missing forecasts.

The one business that saw a drop in revenue was also Disney's smallest segment, Consumer Products and Interactive Media.

Disney shares have risen slightly more than 8 percent since the beginning of the year, while the Standard & Poor's 500 index has risen nearly 7 percent.

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