On April 11, the Walt Disney Company (DIS) announced that its highly anticipated streaming service, Disney+, is set to launch in the US market on November 12. Disney+ will be a family-friendly streaming service and will offer a wide array of Disney-branded films and TV shows along with new original series and programming from some of its most popular franchises.
Disney’s offerings will include original content from Disney, Pixar, Marvel, Star Wars, and National Geographic, including a live-action Star Wars series called The Mandalorian and an animated series called Monsters at Work based on Pixar’s Monsters, Inc. Disney also plans to make some movies—such as its remake of Lady and the Tramp—exclusive to the Disney+ app. Disney’s acquisition of Fox’s assets has also enriched its portfolio with hit movies such as Avatar.
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Disney+ to compete with digital rivals
Disney’s streaming service is set for release at a time when audiences are increasingly shifting toward online video streaming options instead of subscribing to traditional cable channels—a practice popularly known as cord cutting. Disney+ will compete with giants such as Netflix (NFLX), Amazon (AMZN), Alphabet’s (GOOGL) YouTube, and HBO Now in the streaming space. Comcast (CMCSA) and AT&T’s (T) WarnerMedia are also launching their streaming services soon. Apple’s (AAPL) video streaming service is expected to launch in the fall.
Global SVOD market
The global SVOD (subscription video on demand) market is gaining momentum as more and more consumers are adopting video streaming services. According to Research and Markets, the total number of global paying SVOD subscriptions is expected to reach ~777 million by 2023.