Aug 09, 2017 07:57 AM EDT By Carie P.

Disney To Pull All Its Movies From Netflix: To Launch Its Own Platform, Video Streaming Service In 2018

Disney reportedly plans to remove all its movies from Netflix and as a replacement, the company will launch its own platform and ESPN video streaming service in 2018.

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Latest reports confirmed that Disney will be pulling all its movies from Netflix and as part of the plan, will launch its own video streaming service in early 2018. Apart from this, it was also reported that the company is planning to unveil a branded Disney direct to consumer streaming service in the year 2019.

Because of these plans, some sources were claiming that Disney intends to own a bigger piece of the streaming services. Although it was revealed by the company's CEO Bob Iger that Disney maintained a good relationship with Netflix, it was their decision to create an option to take all its contents from the platform.

With this, CNBC reported that all Disney movies will be removed from Netflix including the Pixar's titles. Then Netflix also confirmed this and added that all Disney movies will be made available until the end of 2018 on its platform but Marvel TV shows will still remain.

As a replacement for Netflix, Disney introduces a new platform which will serve as a home for all films of Disney as well as its future movies. Therefore, starting 2019, their "Toy Story 4," "Frozen 2", and the upcoming live-action "The Lion King" will already be shown on the new platform. With this development, this will serve as a significant investment in television series and films using the new platform.

Besides the new platform, Disney will also launch its in ESPM video streaming service in early 2018. It was also mentioned that this video streaming service will provide the people with 10,000 sports events every year including contents from NHL, MLS, MLB, and collegiate sports events.

In order for the company to make these services happen, The Verge claimed that Disney will take a majority ownership of BAMTech for an amount of $1.58 billion. It can be recalled that last August 2016, the company already bought 33 percent stake in the BAMTech which also worked with digital media company MLB Advanced Media.

All these plans of Disney represent a significant strategic change and transformation of the company. Iger added that if they have a control of a platform they have been very impressed with, this will also give them the way to control their destiny. Further, because of this, Netflix plummeted to more than 5 percent.

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