Disney’s new on demand streaming service will be “substantially” cheaper than Netflix and will launch new Star Wars and Marvel series, according to chief executive Bob Iger.
The unnamed service, which is set to launch in 2019, will according to the Disney executive cost less than Netflix’s £5.99 a month, in part due to its smaller amount of programming.
“I can say that our plan on the Disney side is to price this substantially below where Netflix is,” Iger said in a company call to discuss annual earnings. “That is in part reflective of the fact that we’ll have substantially less volume.”
The company plans to roll out the streaming service in the second half of 2019. Disney will increase its subscription price over time as its content grows, just as Netflix has.
Iger also announced several new TV series that will launch on the streaming service: Disney will produce a live-action Star Wars series, as well as one based on Pixar’s Monsters, Inc. movies, a High School Musical show and a Marvel series.