Shares of Netflix jumped 3 percent on Tuesday ahead of the streaming video service's quarterly results, with traders expecting a larger than normal reaction from the stock as new competition looms from Walt Disney Co. The new streaming platform launches on November 12, 2019, and the full series will be available for fans immediately. The company's acquisition of Fox's assets has given it a majority stake in online streaming service Hulu, which is jointly controlled by Disney, AT&T's (T) WarnerMedia, and Comcast's (CMCSA) NBCUniversal.
Ever since the deal for The Walt Disney Company to buy tons of assets from 21st Century Fox was announced, there has been a fair share of concern about what this means for the future of studio filmmaking.
"We're extremely excited about our growing portfolio of direct-to-consumer offerings", said Kevin Mayer, Disney's chairman of direct-to-consumer and worldwide content.
"We wonder how the company will explain what is and is not available on Disney+ both domestically and overseas", Greenfield said in a research note.
Did you know we have a YouTube Channel? "It is that simple".
Disney stressed plans to use its coveted content, and original creations to come, to differentiate itself in the increasingly competitive streaming television market.
Disney+ will also be available on a wide range of mobile and connected devices, including gaming consoles, streaming media players and smart TVs. Netflix now has 148.8 million subscribers globally, 60.2 million of whom are from the US.
It said in a statement: 'We don't anticipate that these new entrants will materially affect our growth'.
John Meyer, analyst at the investment firm Transpire Ventures, said Netflix still has the upper hand in the market.
Netflix added 28.62 million paid subscribers a year ago, a record, while spending more than $7 billion on programming, also a new high. With the official announcement of this show, it seems that we will be in store for more odd couple missions that we caught a bit of a glimpse of in Captain America: Civil War.
Disney announced last week that its ad-free, family-friendly subscription service, which will allow consumers to download its content for unlimited offline viewing, will cost just $6.99 per month and offer access to 100 recent and 400 classic movies from the Disney library, including the titles from the infamous Disney Vault.
Disney's popular live-action musical movies are getting their own TV show.
"Now Korean consumers can enjoy Netflix content for a week at a price cheaper than one movie available at local providers' video-on-demand service", said another industry watcher. Of the 9.6 million new paid subscribers, 1.74 million were in the USA and 7.86 million were from around the world; the user growth represented a 16 percent year-over-year increase.