Published: Thu, August 09, 2018
Culture | By Jeremy Gray

Disney releases important details and launch of new streaming service

Disney releases important details and launch of new streaming service

On today's earning call Disney CEO Bob Iger said the streaming service would be the company's biggest priority in 2019.

"We're obviously very excited to leverage the Fox assets to enhance and accelerate our DTC [direct to consumer] strategy". 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. Fox Searchlight, which received 20 Academy Award nominations a year ago and won best picture for "The Shape of Water", will also be given additional resources, Iger said. Pretty much, Marvel movies hit Netflix eight or nine months after their theatrical debut, and all that really proves is that Captain Marvel would normally likely hit around November or December 2019...which is perhaps a little after we expected their service to hit. For years, Disney and Netflix have had an amicable partnership that has allowed the latter to house some of its most valuable property, including the new Star Wars films and the Marvel Cinematic Universe, while also attaching Marvel's name to some of their flagship original series.

Disney executive Ricky Strauss, president of content and marketing for the still-unnamed streaming service, gave some of the first details to The New York Times about what the site will look like when it launches in 2019, including that they will let their licensing deal with Netflix expire.

Though a price for the upcoming entertainment service hasn't been set, Iger told analysts during a conference call that the price will reflect a lower volume of shows and movies.

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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. The average estimate of four analysts surveyed by Zacks Investment Research was for adjusted earnings of $1.97 (roughly Rs. 133) per share.

Disney's consumer products and interactive media division saw revenue dip 8% to $1 billion.

Elsewhere, Disney's studio and entertainment division saw a 20 percent boost in sales, to $2.88 billion, due mainly to the success of "Avengers: Infinity War" and "Black Panther".

Disney stock dipped 2% in after-hour trading, falling to $114.31.

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