Disney severs ties with Netflix to set up online offering

The Walt Disney Company

The company now has many agreements with Netflix which allows the latter to stream Disney movies, and the movies made by Disney's subsidiaries and collaborators - including Lucas Film's Star Wars franchise, and the Marvel films.

The Walt Disney Company announced in a public statement Tuesday that it had acquired majority ownership of BAMTech, Major League Baseball's interactive media company, and would turn the site into an ESPN-branded streaming service. It said that in addition, it would make a "substantial investment in original movies, original television series, and short form content" for the platform.

Disney is launching streaming services for both its movies and live sports, shaking up how it interacts with viewers as it navigates a changing media landscape. The popular streaming service will not lose any Disney movies until the end of 2019, and will add theater releases up until the end of 2018. Disney will pay United States dollars 1.58 billion to acquire an additional 42 percent in BAMTech from MLBAM, the interactive media company of Major League Baseball.

Walt Disney aims to take a slice of the video streaming market with the launch of its very own service. Disney is series about moving into consumer streaming and for that objective it has bought a majority ownership in BAMTech for $1.58 billion.

Disney has a number of titles on the United Kingdom version of Netflix, but also already has a separate streaming service, Disney Life. Disney now owns 75 percent of the company that specializes in direct-to-consumer streaming.

The ESPN-branded sports service will offer about 10,000 events a year, including live programming with regional, national and global games. The service's initial lineup will include Toy Story 4, Frozen 2 and the live-action adaptation of The Lion King. The new streaming services are a way to connect directly with consumers and take advantage of new viewing habits.

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