NEW YORK (AP/WCMH) — Disney is launching a streaming service for animated and live-action movies in 2019 as it navigates a changing media landscape.
It will also launch an ESPN sports app in early 2018.
The Disney app will be the exclusive source for streaming animated and live-action Disney and Pixar movies, starting with 2019 releases like “Toy Story 4” and the sequel to “Frozen.”
In 2019, Disney will also end an earlier deal with Netflix, which gave the popular service exclusive access to the company’s films for streaming.
The ESPN service will air baseball, hockey and soccer games, tennis matches and college sports through ESPN’s popular mobile app.
CNBC reported Disney purchased an ownership stake in BAM Tech for 1.58 billion in order to power its new streaming services.
“This represents a big strategic shift for the company,” CEO Bob Iger told CNBC’s Julia Boorstin. “We felt that having control of a platform we’ve been very impressed with after buying 33 percent of it a year ago would give us control of our destiny.”
Netflix stock dropped more than 5 percent upon the announcement of the news.