Disney Announces Release Date Of Disney+. Netflix Shares Fall As A Result.
Streaming as we know it is about to change.
The Walt Disney Company formally announced yesterday that November 12th will be the release date for their new streaming service “Disney+”. Starting at a price point of just $6.99/month, or $69.99/year, it is already lower than competitor Netflix’s beginning price point of $8.99/month.
And what can you expect to see at just $6.99/month?
- Disney classics such as Snow White, Bambi, 101 Dalmatians, and more.
- Newer movies such as Moana and others.
- The FULL Pixar movie library and shorts.
- More than 100 original Disney Channel movies.
- 6,000 episodes of Disney Channel series.
- Family movies inherited from the 20th Century Fox merger.
- Exclusive streaming home to all 30 seasons of The Simpsons.
- And titles from Marvel, Star Wars, and National Geographic.
There are also rumblings of a potential discount plan that would bundle Disney+, ESPN+, and Hulu.
Disney chairman and CEO Robert Iger told investors Thursday, “We’re starting from a position of strength, confidence and unbridled optimism.” While chairman of direct-to-consumer and international Kevin Mayer noted that Disney+ will be completely AD FREE!!
Obviously, this news sent a shock wave through the markets. Bloomberg reports that Netflix shares fell as much as 5% at the open of trading on Friday, sending it’s market as low as $152.5 billion, an estimated $8 billion dollar loss. Disney, however, went the opposite way with shares jumping to a record high, adding as much as $25 billion in market value for a total of about $235 billion.
Disney+ has so far secured partnerships with Roku as well as PlayStation 4 for streaming, but a wider release on smart TVs and game consoles is in the works. Including the possibility of the Nintendo Switch, which famously doesn’t offer Netflix.
Project-Nerd will have more information as it becomes available, but in the meantime let us know your thoughts in the comments below.