Bad news for the enormous Venn diagram of people who watch Disney movies and subscribe to Netflix: Disney is going to stop supplying its movies to the streaming platform and launch its own streaming service by 2019, the entertainment conglomerate announced Tuesday.
Variety reports that the move was revealed in Disney's quarterly earnings report. Disney is buying a majority stake in BAMTech, a streaming video company founded by Major League Baseball.
It will use BAMTech's technology to launch direct-to-consumer streaming services for ESPN and Disney movies.
Disney will launch an ESPN-branded sports video streaming service in early 2018, followed by a Disney-branded one in 2019.
The new Disney service will become the exclusive home in the U.S. for subscription on-demand access to new releases from Disney and Pixar beginning with the 2019 theatrical slate, which is set to include Toy Story 4,Frozen 2, and the live-action Lion King. Disney library items will exit Netflix as their licensing window deals expire.
Better watch Moana as many times as you can in the next few years!