Disney used to make hundreds of millions from Netflix. Now it will spend billions to fight it.
Disney used to make hundreds of millions of dollars a year selling its stuff to Netflix. Now it is going to spend billions of dollars a year to try to beat Netflix. Disney executives didn’t mention Netflix once during their three-hour-plus investor presentation Thursday, at which the company laid out its plans to build up a suite of subscription streaming services — most notably Disney+, a $7-a-month service bursting with movies and TV shows. Disney+ launches in the US in November and will feature everything from Disney’s recent theatrical offerings, like Captain Marvel , to classic Disney movies like Bambi , and new, original stuff like The Mandalorian , a Star Wars TV-show spinoff. And Netflix isn’t the only company Disney will be battling in the years to come; the list of competitors and would-be rivals now includes everyone from Amazon to Apple to AT&T. But make no mistake: Netflix is the primary reason ...