This confirms what has been suspected all along, that the streaming rights would kick over for all of Disney's movies starting in 2019 and beyond.
Actor and director Jon Favreau (Iron Man, The Jungle Book) is now hard at work executive producing and writing a live-action Star Wars TV series for Lucasfilm and Disney's new direct-to-consumer streaming service.
Disney is trying to transform itself into a broad-based digital entertainment company as ESPN and its other networks lose viewers to Netflix Inc (NFLX.O) and other streaming options. For years, Disney and Netflix have had an amicable partnership that has allowed the latter to house some of its most valuable property, including the new Star Wars films and the Marvel Cinematic Universe, while also attaching Marvel's name to some of their flagship original series.
According to Bob Iger, Star Wars movies released before next year will not be on the new service.
Iger said he did not believe the launch of an OTT TV service would complicate Disney's relationship with its distribution partners and said traditional distributors were "very, very interested in distributing our D2C products" just as they increasingly distribute Netflix. Now, thanks to this report, we know that from Captain Marvel on, they will be heading to Disney's own platform.
When Disney launches its streaming service next year, don't expect to be able to stream all of Disney's biggest franchises, including Star Wars.
Shares of Disney, which have climbed almost 9 percent so far this year, slipped 1.1 percent in after-hours trading on Tuesday to $115.45.
In the fiscal third quarter, Disney's net income rose 23 percent to $2.92 billion (around Rs. 20,000 crores), or $1.95 (about Rs. 133) per share, from $2.37 billion (roughly Rs. 16,300 crores), or $1.51 (around Rs. 104) per share, a year ago.
Total revenue rose 7% to $15.23bn, driven by box office successes as well as theme parks and resort visits, but missed analysts' $15.34bn forecast.
Higher programming costs and a fall in subscribers at its ESPN sports channel, meant that the media and entertainment giant's earnings and revenue fell short of Wall Street forecasts.
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