The Walt Disney Company has announced plans to pull its content off Netflix, in a massive blow for the subscription streaming service, Mirror has reported.
The House of Mouse has bought a 75% stake in video streaming company BAMTech for $1.58 billion, and plans to launch its own paid-for streaming services in the next two years.
The media conglomerate, which also owns sports television channel ESPN, will launch a multi-sport video streaming service in early 2018, followed by a new Disney-branded streaming service in 2019.
The Disney-branded service will become the exclusive home for new releases from Disney and Pixar, such as “Toy Story 4,” the sequel to “Frozen,” and “The Lion King” from Disney’s live-action division.
