As cord cutting becomes more prevalent and streaming services become more popular, it is only natural that more and more organizations will want a piece of the action. In a new development, entertainment behemoth Disney has announced that it will launch its own streaming services and in addition to that, the company will pull all its content from Netflix. It is quite clear that Disney is thirsting for a slice of the huge streaming services pie.

A landmark announcement

Disney made the announcement yesterday at the time of its earnings report and there is no doubt that this is a landmark announcement from one of the biggest producers of entertainment in the world.

Following Amazon's entry into streaming services with Prime Video, it was perhaps only a matter of time for a heavy hitter like Disney. According to the announcement made yesterday, Disney is all set to launch its streaming service in 2019. The streaming service will initially be launched in the United States and eventually in the rest of the world.

Additionally, the company went on to state that all Disney content that is currently available on Netflix will also be pulled. Movies produced by Pixar will also be removed. Disney CEO Bob Iger added that Disney shared a good relationship with Netflix but they decided to trigger the clause in their contract that gives the company the right to pull its content.

What will Disney's streaming service offer?

Considering the sheer volume of content that Disney produces, there is every chance that subscribers will have a vast array of choices as far as content goes.

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According to a report by CNBC, the streaming platform will be the exclusive home of all movies that will be produced by Disney and in addition to that, the company has also stated that it will make significant investments in original content that will include movies as well as TV series. Considering the resources that Disney has at its disposal, there is every chance that the streaming service will give serious competition to Netflix, the market leader. Bam Tech, a company in which Disney acquired a controlling stake for $1.58 billion, will take care of the entire infrastructure of the streaming service.

On the other hand, Disney is also going to launch a streaming service for ESPN next year. The service is slated to cover around 10,000 sporting events in a year. The events will premium sports events like tennis Grand Slams, NBA, MLS and NHL among others. That could be another true game changer as far as sports content is concerned.