CEO Bob Iger says Disney’s streaming service will be able to compete with Netflix

Disney Chairman as well as CEO Bob Iger said the company’s yet-to-be launched direct-to-consumer service will be able to hold its own against streaming giant Netflix.

The Walt Disney Company will be home to box office powerhouses Marvel, Pixar as well as Star Wars. In a Tuesday earnings call, Iger explained of which Disney doesn’t need to spend a lot on trial as well as error to make hit content for its fresh service because the idea already owns the rights to such valuable properties.

“When you go to market with Star Wars movies, Disney movies, Pixar movies, Marvel-branded as well as branded television shows under those umbrellas … of which will give us the ability to probably spend less than if we had gone to market that has a direct-to-consumer service without these brands,” Iger said.

Disney knows the idea already has shows as well as movies of which consumers want as well as are actively seeking. By doing those exclusively available on its streaming service, Disney doesn’t face the same pressure to outbid additional companies inside the content spending race. In January, Netflix said the idea plans on spending between $7.5 billion as well as $8 billion on content in 2018 alone.

Instead, the entertainment giant can focus on developing its existing franchises as well as originals. In August, Disney said the idea would certainly be pulling its movies by Netflix in 2019, when the idea plans to launch its own streaming platform. The news sent Netflix shares down 4 percent in extended trading.

Besides the nostalgic benefits of Disney’s original movies, there’s plenty of fresh content on the horizon as well. Iger said Tuesday of which “Black Panther” ticket presales were “outpacing every additional superhero movie ever made, driven in part to the phenomenal reaction to the premier last week.”

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