Netflix Inc is in "active discussions" with Walt Disney Co about keeping Marvel and "Star Wars" films after 2019, when new Disney and Pixar movies will stop appearing on the streaming service, a senior executive said late on Thursday.
The news comes after Disney announced its intention to follow in the footsteps of increasing numbers of cable nets, with the launch of an ESPN-branded multi-sport video streaming service in early 2018. But all is not lost for the site, with Variety reporting that it's still fighting in negotiations to hold onto the streaming rights to films from Disney's lucrative subsidiaries, like Marvel Studios and Lucasfilm. Disney has turned Marvel into a superhero hit machine and by owning a stable of characters and franchises of its own, Netflix is aiming to cut the nearly $16bn it has committed over the next five years to mostly paying producers for films and TV shows. Previously the interactive media and Internet company of Major League Baseball, BAMTech was founded in 2000 and provides direct-to-consumer streaming services, data analytics and commerce management with almost 7.5 million total paid subscribers to its clients' OTT products. This new service's initial lineup will include Toy Story 4, Frozen 2 and the live-action adaptation of The Lion King.
"Disney's new service is not positioned to compete directly with Netflix, but adds to the mix of options out there for consumers", said Richard Broughton of Ampere Analysis.
But Disney said that it had yet to decide what approach it would take with its "Star Wars" and Marvel films.