Wait, let's talk about Marvel and Star Wars — Netflix to Disney

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He also added that Disney's service would be "complementary" to Netflix. Chevy Chase Trust Holdings Inc. increased its stake in shares of Netflix by 3.4% in the first quarter.

Instead, its "family focused" films - including the upcoming Frozen 2, Toy Story 4 and live-action Lion King - will be available to the consumer on Disney's own streaming service, which will launch first in the U.S. and then globally.

Shares of Disney have drop around 2.6 percent to $104.25 in extended trading after the declaration. Its cable operating income fell 23% YoY. It will include about 10,000 regional and national events in baseball, hockey, tennis, and college sports in its first year.

Netflix has made its first acquisition, buying the comic book company behind Kick-Ass and Kingsman, as it looks to imitate Marvel-owner Disney's superhero strategy.

Pointe Capital Management LLC bought a new position in Netflix, Inc.

"Netflix is the future and Millarworld couldn't have a better home", he said.

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Netflix isn't going to get Disney's "Frozen 2", but it's not yet frozen out of potentially getting streaming rights to Lucasfilm's "Star Wars" franchise and Marvel Entertainment movies.

Disney's parks and resorts units were star performers in the period, gaining 12% in revenue to $4.9 billion, with operating income up 18% to $1.2 billion. The Internet television network reported $0.15 earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of $0.16 by $0.01.

The company is down since yesterday's close of $175.78. "This is continuing to happen".

Netflix has lost content before, including pictures from Sony, Paramount, MGM and Lions Gate. With this news, it would take away its new Disney and Pixar films from Netflix when 2019 hits and putting them on its own service. Disney's 2009 play of investing 30% equity in Hulu hasn't really reaped benefits because the streaming service itself hasn't reached a huge subscriber base. The survey found four in ten Americans are willing to pay for additional streaming services to access content they want to view, including "must watch" shows. Users will access the service through ESPN's app once it has been upgraded. Those could be bundled into in the Disney-branded service, broken into their own subscription VOD services, or licensed to a third party - whether that's Netflix, HBO, or another partner. Some day, Disney could seamlessly offer all of its traditional TV channels online for a monthly fee, he said. But few have the characters and sports licenses that Disney has accumulated and the potential to sell those to customers around the world. "There is no doubt my grandchildren will consume Disney content that we consumed as children".

Despite Sarandos clearly expecting the change, as he stated that Disney building its own stream service is simply a "natural evolution" for the company. The company had previously said it was anticipating 8 million subscribers by 2020, a goal it now said is conservative. CEO Robert Iger in a statement.

"My guess is distributors will look at this probably more as a threat than anything else", Iger said. He acknowledged that on Bloomberg TV Tuesday. "We are reacting to the marketplace".

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