The market for streaming services is already a crowded one, but things are set to be even more competitive.
Earlier this week, media giant The Walt Disney Company officially announced Disney+, its very own streaming service. And while it’s still a few months away from being launched, its effects are already being felt across its industry.
After being in the works for over a year, the streaming service was teased during a marathon presentation on April 11, in which the company also gave a preview of some of its upcoming projects.
Essentially, Disney+ will be the home to five major franchises; Disney, Star Wars, Pixar, National Geographic (which the company now owns, thanks to its acquisition of 21st Century Fox), and Marvel.
All of the aforementioned franchises- and much more- will have their own landing pages on the Disney+ platform, meaning that upon the service’s release, their content is expected to be pulled from the Netflix platform.
The platform, which will cost $7 a month and $70 a year, will also be ad-free, and will include a download feature for offline viewing.
The lineup on Disney+ will include the classic animations, as well as the biggest 2019 movies, including Captain Marvel, The Lion king, Aladdin, and Avengers: Endgame.
The launch immediately had an effect on Netflix, with the current streaming industry leader losing as much as $8 billion in market valuation. Netflix’s share price fell to $349.36 on April 12, marking a new market valuation of $152.5 billion.
Disney, however, saw its share price surge. Its market valuation got a 25 billion boost, reaching a record high of about $235 billion.
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