Netflix and Amazon will soon face another streaming rival. According to a recent article in VentureBeat, Disney has announced that following the end of its contract with Netflix, the company plans to launch its own video platform. The service will be built using technology provided by the BAMTech video-streaming firm.
Disney is one of the biggest names found on Netflix, and the departure may impact the streaming company's earnings. Shares for the brand were down by three percent hours after the Disney announced it would be leaving.
The new streaming service is not set to launch for a while, and Disney said, "U.S. Netflix members will have access to Disney films on the service through the end of 2019, including all new films that are shown theatrically through the end of 2018.”
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