AT&T is selling back its 9.5 percent minority share in Hulu LLC, in a deal worth $1.43 billion. The $15 billion online-streaming venture is now entirely owned by The Walt Disney Company and NBCUniversal parent Comcast Corporation (it was formerly co-owned by Disney, 21st Century Fox, Comcast and AT&T). “We thank AT&T for their support and investment over the past two years and look forward to collaboration in the future,” said Hulu CEO Randy Freer. “WarnerMedia will remain a valued partner to Hulu for years to come as we offer customers the best of TV, live and on demand, all in one place.” Continue reading AT&T Selling Back Its Share of Hulu to Disney and Comcast

Disney CEO Bob Iger announced yesterday that the company’s planned subscription video service is slated to launch November 12th of this year at $6.99 per month (undercutting competitors such as Netflix). The service, which will feature movies and TV series from Disney, Fox, Pixar, National Geographic, Marvel and the “Star Wars” franchise, is planned to roll out in Europe and Asia in 2020. Disney is anticipating 60 million to 90 million subscribers by 2024. To start, Disney+ will offer 10 original movies, 25 original series, all 30 seasons of “The Simpsons,” many of the “Star Wars” films, and family content from the Fox library. Continue reading Disney Reveals Details For Its Upcoming Streaming Service

At Disney’s annual meeting, chair/chief executive Bob Iger made several upbeat announcements to shareholders. First, he assured them that regulatory approval of the 21st Century Fox acquisition will close “soon” and that the expanded company will “hit the ground running.” He also revealed that Disney will debut its immersive Star Wars: Galaxy’s Edge experience earlier than expected: May 31 at in Disneyland, and August 29 at Disney World. Other big news was that Disney Plus (also known as Disney+) will carry the company’s entire “Vault” program. Continue reading Disney to Move Its Classic Movies to New Streaming Service

To ready the launch of its Disney Plus streaming service, The Walt Disney Company has invested in technical infrastructure and doubled down on original content. At the same time that chair/chief executive Bob Iger deemed the service “the highest priority,” he also pursued the acquisition of 21st Century Fox, which is projected to close by the end of March. Now, Disney is a very busy studio, stepping up production for the new service. Of the largest media companies’ estimated $107 billion in global content spending, Disney is responsible for 22 percent, followed by AT&T and Netflix, for $14.3 billion and $14 billion respectively.  Continue reading Disney Aims Its Resources at Disney Plus Streaming Service

At Business Insider‘s IGNITION conference in New York City, Hulu chief executive Randy Freer predicted that, 10 years from now, out of 300+ current cable channels, the only ones that will survive are those that have built a brand with a strong viewer base. He added that, with the exception of live news and sports, everything else on TV will be distributed on-demand. Hulu, which offers live streaming TV with 55+ channels and several Discovery linear channels, is considering less expensive skinny bundles without linear channels. Continue reading Hulu CEO Predicts the End of Most Linear Cable TV Channels

The Walt Disney Company reported a record profit of $12.6 billion for its fiscal year, due to its hit movies, increased attendance at theme parks and a stabilized ESPN. Now the company is getting ready to introduce a new subscription streaming service that is similar to Netflix. While the rewards of the direct-to-consumer offering are potentially significant, launching such a service will entail expenses in content, technology and marketing. Disney chief executive Bob Iger recently revealed the new service’s name: Disney+. Continue reading Disney Readies Launch of New Subscription Streaming Service

Jeffrey Katzenberg and Meg Whitman formed NewTV to offer short original programming designed for smartphones. They believe they’re creating the next-generation HBO or Netflix, and many big players in Hollywood are betting they’re right. Katzenberg said that the holding company he co-founded, WndrCo, closed a $1 billion seed-funding round on July 31. Other backers include Disney, 21st Century Fox, NBCUniversal, Sony Pictures Entertainment, Viacom, AT&T’s WarnerMedia, Lionsgate, MGM, ITV and Entertainment One. Continue reading NewTV Plans to Bring Hollywood’s A-Game to Mobile Video

The Walt Disney Company has revealed some of the details regarding its upcoming streaming service, slated for launch in the second half of 2019. Debuting on the new service will be television series based on “Star Wars,” “Monsters Inc.,” “High School Musical” and Marvel, currently under development. Disney chief executive Bob Iger also disclosed that the service will be priced substantially less than Netflix, in part because it will have less content at its introduction. However, Iger noted that the price could increase as Disney adds more content. Continue reading Disney Looks to Major Franchises for First Streaming Content

In a significant departure from its traditional business model, Disney announced it plans to pull its movies from Netflix and roll out two of its own online streaming services. Early next year the company will introduce an ESPN streaming service that is expected to cover 10,000 events each year, including MLB, NHL and MLS content. The company also plans to launch a Disney-branded streaming platform in 2019 that will offer its movies and TV programming as well as original content exclusive to the service. Following the news, Netflix stock dropped 7 percent in after-hours trading. Continue reading Disney to Introduce Streaming Services Over Next Two Years

The VOID, a VR startup newly headed by former Lucasfilm manager Cliff Plumer, is earning accolades as an experience that could jump-start mass acceptance of the new entertainment medium. For The VOID, the user dons an untethered VR headset, a vest outfitted with haptic sensors and small backpack, picks up a plastic gun, and enters interconnected rooms to play a 10-minute “Ghostbusters” adventure zapping apparitions. The first IMAX VR Experience Centre also recently opened in Los Angeles, with more to come. Continue reading The VOID, IMAX Pioneer Successful Virtual Reality Experiences

Following the CNBC report that Google and Salesforce.com were among those being considered for a Twitter takeover, TechCrunch added that Microsoft and Verizon have also expressed interest. Today, headlines indicate that Disney is considering a possible bid. Bloomberg reports that Disney is working with an adviser on a potential deal, in what would be the company’s latest investment in a string of tech-related media businesses including Hulu, Vice and MLB’s BAMTech. The Wall Street Journal suggests that “a Twitter acquisition would be Disney’s biggest technology deal yet” and “could benefit ESPN as cord-cutting becomes more widespread.” Continue reading Disney Said to Be Considering Possible Bid for Twitter Merger

The Walt Disney Company just invested $1 billion for a 33 percent stake in BAMTech, Major League Baseball’s streaming division, with an option to buy “a controlling interest” in the future. BAMTech, which also handles streaming for HBO among other media entities, will be Disney’s partner in creating an ESPN subscription streaming service that will most likely debut by the end of the year, according to Disney chief executive Bob Iger, and offer baseball, hockey, tennis, cricket and college sports. Continue reading Disney, Major League Baseball Partner for Streaming Sports

In the wake of pay TV subscriber losses and a falloff in content stocks, industry news has recently focused on the impact of the Internet, mobile apps and streaming services on traditional television. Disney chief operating officer Tom Staggs, who most analysts believe will be the successor to CEO Bob Iger, defended the future of ESPN and the programming bundle at an industry conference in Beverly Hills on Thursday. Staggs also suggested that Wall Street had overreacted to recent changes in the business and should not be so quick to dismiss the current model. Continue reading Disney COO Defends the Programming Bundle as TV Evolves