Disney says its new video streaming service will launch in the United States on November 12. That's well below the $13 monthly fee Netflix charges for its most popular streaming plan, signaling Disney's determination to woo subscribers as it vies to become a major player in a field that has turned "binge watching" into a common ritual.
In an interview with Barron's, Iger said some decisions regarding which properties will get funneled toward Disney+ will be "easy", such as producing mid-budget movies directly for the service, in contrast to the Marvel and Lucasfilm blockbusters.
The company announced the details of its long-awaited streaming service at an event in Burbank, California, on Thursday.
In a January regulatory filing, Disney reported losses of more than US$1 billion for streaming-related investments in Hulu and technology company BAMtech.
Disney ended a lucrative licensing relationship with Netflix in order to create the streaming service and faces challenges as it builds a service to compete with the entrenched streaming leaders.
The Disney+ programming will draw in part from Disney's deep library of classic family films. While each rectangle represents a different movie or show, there are also rectangles for different categories of content including those produced by Disney, Pixar, Marvel, Star Wars and National Geographic. "There truly is no bigger priority for the Walt Disney Company going forward".
Disney+ keeps getting bigger and it hasn't even debuted yet. Now titled Disney+, the service will give subscribers exclusive, ad-free access to highlights from the Disney vault, as well as original films and TV shows that won't be available anywhere else.
The service also plans to bring some programming not traditionally associated with the House of Mouse to Disney Plus, some of which comes from the company's recent acquisition of 21st Century Fox. Of course, Disney had its own talent on hand, including Favreau, who discussed The Mandalorian and introduced a clip for the new Lion King, which he directed.
Along with its strong brand, Disney has the advantage of having a clear strategy for each of its streaming services, Verna said, including Disney Plus, Hulu and ESPN Plus.
Plus, Disney+ will be home to more than 5,000 episodes of Disney Channel series (including shows like Lizzie McGuire, Kim Possible, and That's So Raven) and 100 Disney Channel Original Movies. It remains to be seen when it will come to Canada and other countries.