In a move sure to upset families everywhere, Disney has announced it will be removing its films from Netflix in 2019, when the company plans to launch its own streaming service. Parting with Disney means losing some of the most beloved content of the modern age for Netflix, as beyond its many iconic animated offerings, Disney also owns the rights to the Marvel and Star Wars movies.
The Disney and Netflix partnership began in 2012 and has been incredibly lucrative for all involved, as Disney wisely partnered with Netflix just as the company’s ubiquity in modern life was solidifying itself. Rumors have been swirling for some time that Disney was looking for a way to bypass Netflix and get its content directly to the consumer, and the Disney-owned sports giant ESPN will also be getting its own streaming service.
A representative for Netflix said Disney’s decision doesn’t affect other deals that it has with Netflix, including its co-produced original shows like Jessica Jones, Daredevil, Luke Cage, and The Defenders. Because the current deal doesn’t expire until 2019, upcoming blockbusters like Black Panther and the Han Solo movie will still be made available to Netflix customers. Netflix will also continue investing in its own content more and more, such as in its acquisition of Millarworld, the company founded by Marvel comic book legend Mark Millar just this week.
Nevertheless, the market didn’t take kindly to the announcement, as Netflix saw its stock drop 5% after the announcement.