07 Sep Disney to start online streaming, bypassing Netflix
Media giant Walt Disney plans to start its own online streaming services in the US for movies, shows and sports in a shift aimed at bringing productions directly to consumers.
The plans come as the firm grapples with falling television subscriptions and challenges from online video.
It will launch an ESPN-branded sports service early next year and a Disney streaming service in 2019.
The firm also said it would end a distribution deal with Netflix.
The company made the announcements on Tuesday as it reported an almost 9% fall in quarterly profits and little change in revenues compared to the same period in 2016.
Disney boss Robert Iger said the streaming services “mark the beginning of what will be an entirely new growth strategy for the company”.
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