Published: Fri, September 08, 2017
Culture | By Marion Pratt

'Star Wars,' Marvel Movies Leaving Netflix for Disney Streaming Service

'Star Wars,' Marvel Movies Leaving Netflix for Disney Streaming Service

Now, CEO Bob Iger on Thursday ended speculation about what would happen to the Marvel and Lucasfilm titles currently being streamed on Netflix, according to Variety. Although such plans have not yet been confirmed, Disney will surely be able to sell more people on the existence of yet another streaming service that they have to subscribe to - if they can put Star Wars and Marvel at the forefront. Higher costs related to a new N.B.A. programming deal and the lack of a major "Star Wars" movie will contribute to Disney's flat 2017 results. Mr. Iger said that earnings per share would be "roughly in line" with results for 2016, when it had per-share profit of $5.72.

Over time "this will be a sports marketplace platform" similar to iTunes, he says. Disney announced Thursday it would officially move those titles to its streaming service, removing the entire franchise collections from Netflix.

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Despite its robust film and theme parks business, Disney's stock has struggled due to investor concerns about subscriber losses at its media companies, including ESPN, which make up the biggest share of its profits. This is includes Daredevil, Jessica Jones, Luke Cage, Iron Fist, The Defenders and future Marvel-Netflix properties.

The news arrives less than a month after he announced Disney will pull its movies from Netflix at the end of next year, when their current distribution agreement ends. However, it appears they've come up empty in such a request, as both MCU and Star Wars movies will leave Netflix by 2019. But Disney is leaving a lot of money on the table by not doing a deal with Netflix or one of its competitors.

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Disney will also next year launch a direct-to-consumer ESPN sports service. "And we're going to produce three to four television movies that are Disney-branded".

The company also said it would pay $1.58 billion to buy an additional 42 percent stake in video-streaming firm BAMTech to power its new service.

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