Content streaming giant Netflix, Inc. (NASDAQ:NFLX) might soon face heavy competition from Walt Disney Co (NYSE:DIS) which is reportedly planning to launch its own streaming platform in 2019.
The announcement about Disney’s plan to introduce its own streaming platform was made in August last year. The platform will make its debut in 2019 and it will feature Disney content including “Marvel” and “Star Wars” movies as well as productions from Pixar and Disney studios. The latest news regarding the upcoming Disney streaming platform revealed that it will feature roughly five original films and five TV shows on the first year of its launch. Additionally, the new content will not be R-rated.
Reports suggested that each of the TV shows would have a budget of roughly $25 million to $35 million each and this will be the budget range for 10 episodes. However, some of the TV shows might exceed that budget range and even cost as much as $100 million to make. The company did not disclose any plans for the R-rated content as well as plans regarding the role of 20th Century Fox.
The recent announcement highlights the company’s plan to double down on the type of content that has proved to be quite successful over the last few years. This would explain why Disney is concentrating on content from already established brands such as Marvel. Disney will most likely target a global audience and especially through content that will be family-friendly. This approach is expected to help Disney’s upcoming streaming platform gain traction quickly.
Some of the film content that has been rumored to be in the works include “Lady and the Tramp” directed by Julia Hart, “Don Quixote,”“Togo,” “Stargirl,” “Don Quixote,” “Sword and the Stone,” and “The Paper Magician.” Bog Iger, the CEO of Disney also revealed recently that the company has plans to make a “Star Wars” series and that it will be a live-action series. This is great news for fans because it means more content and also a positive step forward for the company towards deriving more success from the “Star Wars” franchise which has so far been highly successful.
Despite the announcement about the upcoming streaming service, it was revealed that Disney is not in a hurry to remove its Marvel series from Netflix. The Marvel Cinematic Universe has some of the most successful blockbusters in history and it already has some films coming out this year. Black Panther which was the latest release has experienced massive success in the box office and Marvel is expecting nothing less from the upcoming “Infinity War” movie. Having these movies on Netflix is thus important from a strategic point of view for all parties including the companies involved and also for the fans.
Pricing details for the upcoming streaming service have not yet been revealed although Disney is expected to provide more details as the launch approaches.