Streaming services for movies, TV series, sports, and live TV have for the longest time been dominated by Netflix, Amazon Prime, HBO & Hulu but the league will soon be welcoming a new entrant and a strong player at that – bringing the age of Disney vs Netflix.
In April, American diversified multinational mass media and entertainment conglomerate, Disney announced that it’s much-anticipated streaming service, Disney+, will launch on November 12th for $6.99 a month or $69.99 per year.
After endless teasers, Disney’s intention to enter the streaming market is now finally clear and focused to fully take on Netflix in the online streaming wars. The entertainment giant already pulled the plug on Netflix when it announced that it would not be renewing its contract with Netflix that started in 2016.
The deal elapsing will see some massive Disney titles leave Netflix & this is because Disney will be throwing its weight behind its new streaming service. Diseny+ will host a huge number of Disney-owned and Disney-produced films and shows — including titles from Pixar, Marvel, Star Wars.
The coming of Disney+ is no doubt a major competitor for Netflix after Amazon Prime in the US where it has it’s most subscribers. Netflix has grown it’s brand and marque and has given a unique face to TV streaming making it a market leader.
However, Netflix’s brand is only a “baby” to Disney entertainment conglomerate that has been in the entertainment business for most of the last century.
In May Last year, CNN Money reported that Netflix officially ruled the media world with its market value soaring above $153 billion, overtaking Disney as the most valuable media company. However, it didn’t take Disney a while to regain the crown by the close after Netflix shares pared their gains, taking the streaming company’s market cap below $152 billion.
The 2018 Global Television Demand Report found that Netflix owns 71% of the global streaming video on demand (SVOD) market and grabs 68% of the market in the U.S with Amazon Prime Video taking the second spot and Hulu was in third place with 9%, followed by CBS All Access with 4%, and DC Universe with 1%. Other services, such as YouTube Premium or Facebook Watch, made up 4% of the market.
This promises to be an interesting race & war of who rules streaming TV after Disney admitted that it’s okay with losing money on Disney+ until 2024 something that it’s CEO termed as ‘walking instead of running into the streaming industry”.
If you take a look at very many factors as the two go head to head; Disney has a number of beloved characters, from Mickey Mouse to Anna and Elsa, not to mention third-party studios, from Marvel to Lucasfilm, that have their own devoted, global fanbases & although Netflix has a number of attractive shows that have significantly grown her subscription catapulting into the world’s most favourite TV streaming service, Disney still got such an upper hand when it comes to content.
It should also be noted that Disney also has a majority stake in Hulu following its acquisition of 21st Century Fox. Disney also confirmed that it would “likely” combine subscriptions for Disney+, ESPN+, and Hulu. Netflix has some Disney content ( but it’s not that much) and when Disney+ is finally launched, the content won’t be on Netflix anymore by 2020.
Disney+ is entering the market with $6.99 a month or $69.99 per year price tag which is low compared to Netflix’s most basic plan at $8.99 per month, Standard plan with $12.99 & the Premium plan $13.99.
The issue of pricing will be determinant on just how the marketing of the various platforms topped with how great the content is will be spun off. Netflix announced a price hike for subscribers early this year, but that hasn’t slowed its growth although pundits predict that the move could come to haunt them in the future.
Just like Netflix, Disney+ will be available to stream through smart TVs, web browsers, and on tablets, mobile devices, and game consoles, according to Mayer. Disney+ already secured deals with Roku and Sony for availability on their respective platforms.
Disney+ is coming to take on competition from Netflix, Amazon, and Apple. What’s your take? Who will be King of TV streaming by 2024?