Nothing is permanent in this world except change, and only companies that understand this can thrive and prosper. One company that understands this well is Walt Disney Company as it has announced a slew of measures that would address the changing media landscape and cater better to the needs of its audience.
To this end, it has launched two streaming services, similar to Netflix. One of this streaming service will be for sports and the other for movies and television shows. Both these would be stand-alone services that allow users to choose the kind of entertainment they want to view. For example, if you’re a sports lover, you can simply opt for the sports stream while the other would work well for movie buffs. You don’t have to subscribe to everything for a single fee now.
In fact, the company believes that such a standalone subscription would appeal to a younger audience when compared to traditional media. ESPN, which is a joint venture between Walt Disney Company and Hearst Corporation, would be the sports service. It is expected to feature more than 10,000 sporting events including Major League Baseball. Such a move is expected to make ESPN the most preferred and go-to sports stream for audiences across the world.
The television and movie stream will also feature a ton of movies including some of the original content developed by Walt Disney Studios. Obviously, this will be a major attraction for viewers, considering the many pieces of quality original content that’s being developed by Walt Disney Studios.
Both these services will be operational in 2019 and we can expect these services to complete alter the way we view and choose our entertainment. Walt Disney has announced that it will pay $1.58 billion to increase its stake in a video streaming company called Bamtech, that will be developing both these streams.
Another important move by Walt Disney was to end its movie distribution agreement with Netflix. This move comes at a time when there’s a growing caution in Hollywood about the spectacular increase in the popularity of Netflix. Many people believes that Netflix has changed consumer preferences and as a result, many traditional business models have been failing. Though some companies like HBO and CBS are starting to offer their own streaming service, there’s still much unease about how consumers want to watch their favorite shows.
While these announcements by Walt Disney may seem like a way to check the popularity of Netflix, in reality, it represent a strategic shift in the way entertainment is delivered to customers. As a result, Netflix and Walt Disney have become competitors from partners and this could turn out to be an interesting match, after all.
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