Disney+ streaming service will launch in late 2019

Disney+ streaming service will launch in late 2019

The big news of the day is that we now have a name and release window for the upcoming streaming platform. It will be called Disney+ and is slated to launch late 2019. It will result in Netflix losing a bunch of content -- namely everything Star Wars, Pixar or Marvel -- and serve as a direct competitor. The new service will offer a number of exclusive original shows and movies as well including a Loki-centric Thor spinoff starring Tom Hiddleston, a reboot of the High School Musical franchise, new adventures from the Monsters Inc universe, and a prequel series to Rogue One starring Diego Luna.

As Disney CEO Bob Iger explained on a press call Thursday, Disney's media network revenues for Q4 increased 9 percent to $6.0 billion. These networks include Disney's cable channels like Freeform, ESPN and of course the flagship Disney Channel. Similarly, Disney's broadcasting revenues for its Black-ish IP and two Marvel-based series jumped 21 percent to $1.8 billion.

The company's studio entertainment division continued to print money as well with revenues for the quarter increasing 50 percent to $2.2 billion. Iger credited the success of Incredibles 2 and Ant-Man and the Wasp with helping achieve those numbers (the fact that the only movie to come out in Q3 was Cars 3 probably helped a bit as well). Really the only place where Disney is losing money is in its consumer products and interactive media division, where revenues dropped 8 percent to a paltry $1.1 billion.