The new service, which will launch in the fall, is being priced very aggressively.
Netflix has seen its numbers of movie and TV shows shrink as some companies have pulled them ahead of their own efforts, but it still has almost 6,000 films and television series, according to a study previous year, with a growing proportion of them originals.
The company said that after launching in the U.S. on November 12 at $6.99 per month, Disney+ will gradually expand internationally, starting in Europe. The $6.99 per month price point won't hurt either. "While it is smaller than Netflix, we think the Disney+ library will be deeper in terms of quality".
It could be time to book profits on Netflix (NFLX), which has skyrocketed 34% this year.
The pricing strategy is part of Disney's strategy to get as many people as possible to sign up for the new service. "We are confident that the combination of our unrivaled storytelling, beloved brands, iconic franchises, and cutting-edge technology will make Disney+ a standout in the marketplace, and deliver significant value for consumers and shareholders alike", Disney CEO Bob Iger said.
"[Our original content] is not filling in for anything else".
Google takes down TikTok after SC refuses to stay ban
Bytedance also argued that a "very minuscule" proportion of TikTok content was considered inappropriate or obscene by its users. YourStory reached out to TikTok about MeitY's directive to Google and Apple, and the company refused to comment on the matter.
The Walt Disney Animation Studios will be releasing a documentary series titled "Into the Unknown: Making Frozen 2", which will explore the making of one of the most highly anticipated Disney films of all time.
Last night, both Elizabeth Olsen and Paul Bettany shared their excitement about working together once more on WandaVision, a show documenting more of Wanda Maximoff and that floppy disk that Tony Stark and Bruce Banner created.
"The Phineas and Ferb Movie" (working title) will be an animated film featuring numerous original voice cast of the show, "Phineas and Ferb". "It's also ad-free, which was unexpected, as the conventional wisdom was that they would go to a hybrid Hulu-style model, with both ad-supported and ad-free options".
Disney said it would include all 30 seasons of "The Simpsons", family-friendly titles like "The Sound of Music,"and "Malcolm in the Middle" and its forthcoming "space opera " series "The Mandalorian".
Now, many have chose to keep their content for their own services as Netflix and another tech giant, Amazon.com Inc., continue to lure new customers to streaming.
At an outflow of $460 million in the quarter, Netflix burned cash at a faster rate than the year ago quarter ($287 million). However, some of these films will still be available on Netflix through 2020. In total over 7500 television episodes and 500 movies will be available.