Disney's standalone streaming service: What's the story so far?

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The company also plans to create a Star Wars TV show for its new streaming service.

Concerning its closely watched cable TV subscribers, Bob Iger, chairman/CEO of Walt Disney, says: "We have seen some sub losses, but not as bad as in previous quarters".

During the call, Iger also revealed plans to develop TV spin-offs for Pixar classic Monsters Inc and High School Musical, as well as more shows within the Marvel Universe.

Our minds are still blown by today's news that a brand-new Star Wars trilogy is in the works - as well as a live-action Star Wars TV show.

Mr. Iger also provided some information on pricing for the service, saying it will be "substantially below" that of Netflix Inc. because it will start with "substantially less volume". Expect films with bigger scope than your typical Disney Channel Original Movie, but not Avengers 6 either.

"It's becoming an internet TV world", Hastings said, "which presents both challenges and opportunities for Netflix as we strive to earn screen time".

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The news about a new Marvel series is not surprising, considering its Disney other most valuable property; though, it does raise the question of what will happen to the studio's other television shows.

Pricing hasn't been announced, and while Iger said that the Disney streaming service will be priced less than a Netflix subscription, he didn't say anything specifically about the pricing strategy for ESPN Plus.

Disney revenues were down 3% to $12.8 billion for its fiscal fourth quarter, with net income down 1% to $1.7 billion.

Disney is convinced that we're all going to make the migration though - so convinced that they are apparently spending over $300 million a year on this endeavour. And higher costs for sports programming cut into media networks' revenue. It's not a insane idea; Netflix would continue to benefit from new Marvel material, the MCU could spin out more street-level heroes, and Disney keep some distance from the violent material while still reaping the reward of their success. Although profit rose, Hurricane Irma forced Disney to close its four Orlando, Fla., parks for two days and cancel three cruises.

Disney's shares have been a laggard on the Dow Jones industrial average, having fallen about 1.5 percent this year through Thursday, compared to the 18.7 percent gain the index has seen.

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