Published: Thu, August 09, 2018
Culture&Arts | By Hattie Nash

Disney CEO Bob Iger Reveals New Details About Upcoming Streaming Service

Disney CEO Bob Iger Reveals New Details About Upcoming Streaming Service

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.

On top of the original Marvel series, Disney is in development on a new live-action Star Wars series as well as TV series adaptations of Pixar's Monsters Inc.

Disney will also be producing original content for the yet-to-be-named streaming service, including Star Wars TV shows and even some live-action remakes. This service will rival Netflix, though Iger has said in the past that it will cost "significantly less" than Netflix.

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Worth a mention is that Iger said the Marvels shows planned for the streaming service will have a chance to explore the characters acquired from Fox (so it sounds as if some of the X-Men characterless will be coming to Marvel TV, which is already involved with the Fox TV series The Gifted and Legion).

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.

And while it will take time for the streamer to fill its back catalog, the long-term plan is to make the streaming service the one-stop shop for all things under the Disney brand (which seems to be just about everything in entertainment these days). "Having earned the overwhelming support of shareholders, we are more enthusiastic about the 21st Century Fox acquisition than ever, and confident in our ability to fully leverage these assets along with our own incredible brands, franchises, and businesses to drive significant value across the entire company".

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Disney's streaming service is expected to launch in mid to late 2019. Now the trick for Disney is to make their homegrown streaming services appealing to their fans, and the general public, while still maintaining their current revenue levels from more traditional distribution. The price will reflect this smaller catalog, and Iger said it will likely be cheaper than Netflix initially. 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 movie studio enjoyed blockbuster success with "Avengers: Infinity War" and "The Incredibles 2".

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