Disney plans new 'Star Wars,' Marvel series for new streaming service

Disney plans new 'Star Wars,' Marvel series for new streaming service

Disney plans new 'Star Wars,' Marvel series for new streaming service

It does, however, mean that Disney will be increasing the price as the catalogue grows.

Robert Iger, chief executive of Walt Disney Co, also revealed details of the first shows that will be released. He also said that there will be a new TV series based on Pixar's 2001 film Monsters Inc. and another series based on High School Musical, as well as a new series from Marvel.

Generating confidence in the future is critical for Disney as it is coming off a comparatively weak fiscal year for its movie and consumer-products units and more declines in its television business.

"As I've said earlier, we're going launch this thing pretty aggressively", he said on the call Thursday.

Iger said the service will use Disney, Pixar, Marvel and Star Wars content but that everything has to adhere to Disney's G-rated standards and filtering features will be available for parents letting their kids use the service. But it'll simply launch with less volume, and the price will reflect that.

Wall Street analysts have an average price target of $110.48 for the stock - 7.6% above Thursday's closing price.

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Netflix is now home to The Defenders line of Marvel shows, with The Punisher launching later this month; Hulu also has a new Marvel series, Runaways, set to debut on November 21.

The earnings report comes amid Disney's alleged negotiations with Fox to acquire some of its entertainment assets. Shares initially fell almost 4% in late trading Thursday, after the top and bottom line misses.

Disney's new service, then, doesn't really pose a risk to Netflix in terms of subscribers jumping ship, or even all that large of a threat that folks won't sign up for Netflix.

News that there will be a whole new "Star Wars" trilogy sent the internet rippling, and the films are no doubt expected to be blockbusters unless audiences start to feel Lucasfilm fatigue - which they haven't, so far. An worldwide version of the service might release before the United States launch, however, due to streaming rights.

Disney's CEO confirmed in September 2017 that the service will have up to five original series, three or four exclusive Disney movies, and Disney's entire TV catalogue.

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