"That is in part reflective of the fact that it will have substantially less volume".
On an earnings call Thursday, Disney CEO Bob Iger revealed that several of the studio's most famous franchises will be getting the series treatment for the service, according to The Hollywood Reporter.
A wicked hurricane season, falling advertising sales and a canceled movie sapped fourth-quarter profit at Walt Disney Co., leading to the first drop in annual results since the financial crisis nearly a decade ago.
The Disney streaming platform is expected to launch in 2019.
News emerged this week that Disney had held talks about buying the entertainment wing of U.S. media rival 21 Century Fox.
Earlier this week, Apple won a bidding war for a new TV series starring Jennifer Aniston and Reese Witherspoon, the Hollywood Reporter said. "Our goal here is be a viable player in the direct-to-consumer space, space that we all know is a very, very compelling space to be in".
The Marvel/Netflix partnership has given us some of the best stories in the MCU, but it looks that's all about to end as Disney begins its quest for streaming dominance. According to reports, around 7000 episodes of Disney television and 500 movies will be available on the new service, the exclusive home in the USA for subscription-video-on-demand viewing of the newest live action and animated movies from Disney and Pixar.
The news about a new Marvel series is not surprising, considering its Disney other most valuable property; though, it does raise the question of what will happen to the studio's other television shows.
During the call, Iger also revealed plans to develop TV spin-offs for Pixar classic Monsters Inc and High School Musical, as well as more shows within the Marvel Universe. No release dates were announced, but those will be in addition to the film coming out this year, a Han Solo-specific movie next year, and Episode Nine in 2019. New seasons of Jessica Jones and Luke Cage are in production, and Daredevil and Iron Fist will start filming soon.
Disney's drop in theatrical distribution revenues was primarily driven by the under-performance of Cars 3 compared to Finding Dory in the prior-year quarter. This new service will feature a way to only showcase Disney branded content. It would make sense that we would get more details at those times.
The service will launch in the US.