Disney to charge less than Netflix for its streaming service

Walt Disney Co

Walt Disney Co

There is a strong chance that the same will happen to the Netflix original Marvel TV shows, with The Punisher, scheduled for a November 17 release, being the last show they announced, and no new shows are now in development for Netflix.

Disney said Thursday it's already working on a new Star Wars trilogy to follow the series that's scheduled to wrap up in December 2019.

Ahead of the highly anticipated December 15 premiere of Star Wars: The Last Jedi, Disney has secured a deal with Johnson to develop a brand-new Star Wars trilogy that will be separate from the episodic Skywalker saga.

Then, on the company's earnings call, CEO Bob Iger told analysts that Disney's standalone streaming service, which it announced back in August, will be priced "substantially below where Netflix is".

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The latest financial report notes that Disney had an "unexpected" drop in profits and also confirms that ESPN is still losing subscribers by the millions, Reuters reported.

Speaking of spending though, Disney shockingly doesn't want us to do that much of it.

"Disney's total revenue fell to $12.78 billion in the quarter ended September 30 from $13.14 billion a year earlier", Reuters added.

This week, Disney CEO also announced that they plan on making sure their streaming service is "substantially below" the current price of Netflix, which now sits at a $10.99 a month price point for USA subscribers, and will likely increase in the coming years.

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Need cord cutting tech support?

Generating confidence in the future is critical for Disney as it is coming off a comparatively weak fiscal year for its movie and consumer-products units and more declines in its television business.

Weighing again on performance was the sports TV unit ESPN, which blamed lower advertising revenue and higher program costs.

Shanghai Disney, which opened in June of 2016, also saw higher attendance and outperformed the company's earlier projections. Revenue fell 3 percent to $12.8 billion, while net income dipped 1 percent to $1.75 billion.

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Studio entertainment also took a hit, with revenues falling 21 percent in the quarter to $1.4 billion and 11 percent in the year to $8.4 billion.

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