Disney Reveals New Streaming Service Will Be Called Disney Plus

Disney Plus

Disney Chairman and CEO Bob Iger announced yesterday during a live audio webcast of Disney’s fiscal full year and fourth quarter 2018 financial results that the name of Disney’s new direct-to-consumer streaming service is Disney+.

Disney’s new DTC (direct to consumer) streaming service is meant to be a direct competitor with Netflix and hopefully give the company a serious foothold in the streaming market.

One thing this new service has is lots of content, but still Disney is planning on making more. Disney also announced its plans for a second Live action Star Wars series as well as a Marvel series centered around a fan-favorite character from the Marvel Cinematic Universe.

The new projects join an impressive slate of films and series planned for Disney+ that includes new stories set in the worlds of Disney•Pixar’s Monsters Inc. and Disney Channel’s High School Musical, as well as a galaxy far, far away. Earlier this year, Lucasfilm revealed that Emmy-nominated producer and actor Jon Favreau will write and executive produce The Mandalorian for Disney+.

Once ties are severed with Netflix for good, Disney will be losing an estimated $300 million in annual revenue from Netflix for pay-TV rights. Beginning in 2019, Captain Marvel and every Disney film released in theaters will no longer head to Netflix and instead will make their way to Disney+. Ant-Man and the Wasp will now be the last Marvel movie to come to Netflix.

Disney+ is scheduled to launch in the U.S. in late 2019.