Following the close of the stock market, Disney announced in its latest earnings report that it will pull all of its movies from Netflix. It will launch its own streaming service in 2019.
Interestingly, the company also announced it will launch an ESPN streaming service in 2018, which will feature about 10,000 sporting events per year and will have college, tennis, MLB, NHL and MLS content.
To power the two services, Disney is buying a majority stake in BAMTech, the streaming division founded by the MLB, for $1.58 billion.
How many others will leave Netflix for Disney’s service? Better yet, who will pay for two services?
Upon the announcement, Netflix’s stock had dropped 5 percent.
A graduate of the University of Florida and founder of Saturday Down South, Kevin is a college football enthusiast.
