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The ad-free monthly subscription called Disney+
is set to launch later this year. In addition to Disney films
and TV shows, it will feature programming from the Marvel
superhero universe, the "Star Wars" galaxy, "Toy Story" creator
Pixar animation and the National Geographic channel.
Disney is hosting Wall Street analysts at its Burbank,
California, headquarters to showcase the Disney+ app and provide
additional details about its online media strategy.
The entertainment giant is trying to transform itself from a
cable television powerhouse into a leader of streaming media.
Chief Executive Bob Iger in February called streaming the
company's "No. 1 priority."
The digital push is Disney's response to cord-cutting, the
dropping of cable service that has hit its ESPN sports network
and other channels, and the rise of Netflix Inc. The Silicon
Valley upstart has amassed 139 million customers worldwide since
it began streaming 12 years ago.
The Mouse House will join the market at a time when audiences
are facing a host of choices, and monthly bills, for digital
entertainment. IPhone maker Apple Inc, AT&T Inc's WarnerMedia
and others plan new streaming services.
Disney has not yet announced a price for its new service.
To bolster its potential digital portfolio, Disney recently
purchased film and TV assets from Rupert Murdoch's 21st Century
Fox and gained prized properties such as "Avatar."
In a January regulatory filing, Disney reported losses of more
than $1 billion for streaming-related investments in Hulu and
technology company BAMtech.
Disney had been supplying new movies such as "Black Panther" and
"Beauty and the Beast" to Netflix after their runs in theaters
but ended that arrangement this year to feed its own streaming
ambitions. The company estimated it is foregoing $150 million in
licensing revenue this fiscal year by saving programming for its
own platforms.
The Disney+ programming will draw in part from Disney's deep
library of classic family films. It also will include exclusive
original content such as a live-action "Star Wars" series called
"The Mandalorian," a show focused on Marvel movie villain Loki,
and animated "Monsters at Work," inspired by hit Pixar movie
"Monsters Inc."
Some new Disney movies, such as a "Lady and the Tramp" remake,
will go directly to the Disney+ app. Other new releases will
appear on Disney+ after their run in theaters, executives have
said.
(Reporting by Lisa Richwine; Editing by Lisa Shumaker)
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