Disneys Profit Soars, but Focus Remains on Its Coming Streaming Service

Disney\s Profit Soars, but Focus Remains on Its Coming Streaming Service
Disneys long-awaited streaming service will be called Disney+
Share Share Disneys long-awaited streaming service will be called Disney+ share tweet Linkedin Reddit Pocket Flipboard Email Disney has announced the name for its upcoming streaming service: Disney+, scheduled to launch in the US in late 2019.

Along with the new branding, the company has also announced two more major shows that will be hitting the service. A second Star Wars spin-off will see Diego Luna reprise his role as Cassian Andor, set before Rogue One: A Star Wars Story, and Disney confirmed the previously rumored Loki series that will see fan-favorite Tom Hiddleston star once again as the iconic Marvel villain. Those shows will join already announced projects like Jon Favreaus The Mandalorian, as well as shows based on Monsters Inc. and High School Musical.

Disney co-owns Hulu with 21st Century Fox, AT&T and Comcast, which owns NBCUniversal, the parent company of NBC News. But Disneys $71.3 billion acquisition of Fox, which could gain final government approval in the next few months, will give Disney a 60 percent stake in the streaming video company, allowing it to have greater control of Hulus future.

Todays news only further cements what we already knew: Disney is going to be leveraging hard its existing successful franchises to attract viewers to the service. And if the companys box office receipts for films like Infinity War and The Last Jedi are anything to go by, Disney will be putting up some pretty formidable competition when Disney+ does arrive next year.

That’s a huge difference from Netflix, which has been criticized in the past for making its new releases (especially film acquisitions that debut on the streaming service) difficult to find. Disney is obviously looking to replicate Netflix’s success in the streaming world, but they’re at least doing it in a somewhat creative way. /Film’s Peter Sciretta just drew the connection that instead of a boring black grid, Disney+ will be a world split up into different themed “lands” – sort of like the theme parks for which the company is known.

Disneys new streaming service will be called Disney+

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Although Disney ended its fiscal year on a high note, the coming quarter may be rough. Christine M. McCarthy, Disneys chief financial officer, cautioned that movie operating income could fall by as much as $600 million — or roughly 70 percent — because of comparisons to Star Wars: The Last Jedi in 2017. The lack of a Star Wars movie over the holidays will also hurt Disneys consumer products business. And programming costs at ESPN will climb because of the timing of sporting events.

Disney reveals the name of its Netflix competitor and outlines Hulu plans

New York (CNN Business)Disneys upcoming streaming service will be called Disney+, CEO Bob Iger announced on a call for investors Thursday.


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