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Disney+ set to become one of the biggest streaming platforms

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The media group’s new streaming service will lay down the biggest challenge to Netflix so far

Yvette Nicole Brown poses with characters from ‘The Simpsons’ at the Disney+ official US launch party. Picture: GETTY IMAGES/RODIN ECKENROTH

Disney launched its new streaming service this week with all the hoopla of a Magic Kingdom parade. CEO Bob Iger says Disney+ is not only a new era for the company but also a statement about the future of entertainment. For once, the reality will match the showman’s hyperbole. Just as cable upended network television, digital subscription services have spoiled the market for pay-TV. Operating income at Disney’s media networks unit was falling when it opted to sell directly to consumers instead of via distributors in 2017. It has been rewarded for renewing its business model with a share price boost.

Disney’s vast back catalogue makes it the most credible challenger to Netflix in the great streaming wars breaking out across the media universe. Its family vibe will help it sell to buyers with children. Other content taps into fan culture.universe. Characters from the popular Marvel superhero franchise will appear in TV shows.

At $6.99 per month, the service is cheaper than Netflix. Customers of Verizon’s unlimited phone plans can get it free. That covers about 17-million households.

 

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