A wicked hurricane season, falling advertising sales and a cancelled movie sapped fourth-quarter profit at Disney, the company said, leading to the first drop in annual results since the financial crisis nearly a decade ago. Iger's comment does echo Netflix's strategy, which had hiked the price recently noting that pricing is all related to volume. Plus, Disney plans to produce four or five movies a year exclusively for the service, Iger 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 earnings report comes amid Disney's alleged negotiations with Fox to acquire some of its entertainment assets.
When it was announced that Disney would be moving on from Netflix to create their own streaming service, it was unclear what would happen to Marvel shows like The Defenders. Iger said the company just closed a deal with Rian Johnson, who directed the installment that will be released in December, to develop an entirely new Star Wars trilogy. According to Variety, Iger has said that Disney is now working on shows based on Monsters Inc., High School Musical, as well as a new series from Marvel.
A series based on the Pixar film franchise, Monsters, Inc.
The service is set to launch in 2019. Details are super-light, but a creative universe with possibilities that run the gamut from Spider-Man to The Avengers to Guardians of the Galaxy to Thor... well, you get the idea.
The service will launch in the US. Its most popular plan, which allows high-definition video streaming on two devices at a time, costs $10.99 a month. Iger also announced that the service will include a redesigned app that will give users the ability to stream channels and "thousands more" live events "for a fee".