The entertainment industry this week shuddered to some surprising news. Walt Disney is going to void the collaboration with Netflix. Not only that, but the House of Mouse refuses to rely on another partner once again. Therefore, the company is going to open its own streaming service by itself. On top of that, it will also create a dedicated ESPN streaming service exclusively for content from the world of sports.
Walt Disney CEO Bob Iger Claimed that It Is High Time His Company Became Independent
This week, Disney announced that it is going to retake most of its products from Netflix. The move will start with 2019, yet investors weren’t so happy about this. Such an event coupled with disappointing third quarter earnings report, the shares in the company saw a considerable drop in value of around 5%. Against all the odds, the company remains adamant regarding its decision, and it even is optimistic about the future.
When talking about the quarterly financial report, Disney CEO Bob Iger tackled the Netflix and ESPN service topics as well. The overall tone of the announcements remained in the optimistic sphere. According to him, this transition is a natural move for the company. The entertainment organization reached a point of maturity when it has to take advantage of the latest technology to tap into the potential of their own brands.
This Event Might Start a Desegregation Phenomenon for the World Wide Web
On the one hand, the company has enough content to populate an entirely new streaming service from scratch. Let’s not forget that the Walt Disney Company is the creator of some timeless classics that the public will always enjoy watching one more time. The most precious assets are those titles that can be turned into season traditions, such as watching Frozen before each Christmas to get into the spirit of the holiday.
On the other hand, this move might crack the unrestricted binge watching that the online public got used to with Netflix. If more companies join Disney in this decision, people will have to pay for all kinds of online streaming services to have a comprehensive collection of titles. This scenario might push the Internet back to the era of cable.
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