Disney Launches a Counterattack Against Netflix

In a shot at Netflix, Disney has doubled down on its previously announced streaming service. CEO Bob Iger released on Thursday that the entertainment giant will move all of its Marvel and Star Wars films off of Netflix and onto its new service, which is now scheduled to launch in 2019. The move comes quickly on the heels of an aggressive move by Netflix, which surprisingly poached ABC Television's Shonda Rhimes away from the studio in an exclusive overall deal. Rhimes, the creator of hits like Grey’s Anatomy and Scandal, had spent more then a decade at Disney. Netflix also recently purchased their own comic book publisher, Millarworld, in hopes of producing their own superhero franchises. Igor also told reporters that Disney will produce four or five original movies per year for its new service, as well as an equal number of original series and TV movies. The price for a subscription to the Disney streaming service has not been announced.

PageBreaks Take: All eyes are fixed on this battle between two entertainment juggernauts. At this point, Wall Street is not impressed with Igor's plan. Disney stock fell 4% after the news.

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