Entertainment conglomerate Disney announced during its latest earnings report today that it intends to end a major distribution deal inked with Netflix a few years ago and pull all of its movies from the popular service, including Disney as well as Pixar’s titles, CNBC said today.
Netflix said Disney movies will be available through the end of 2018 on its platform. Marvel TV shows will remain. Netflix gained exclusive access to Disney, Marvel, Lucasfilm and Pixar films in a 2012 deal.
The Mickey Mouse house also said Tuesday it will launch a pair of branded direct-to-consumer video-streaming services in 2019 starting in the US and expanding globally as it responds to the cord-cutting trend pressuring the cable industry, The Wall Street Journal reported.
Netflix stock dropped more than five percent following the announcement.