Netflix is in discussions with Disney over whether it will retain the rights to stream Marvel and “Star Wars” content after Disney starts its own streaming service for other content in 2019.
Disney announced Tuesday that it would start its own streaming service in 2019 when Netflix’s rights to Disney and Pixar movies are set to expire. Disney did not say at the time what would happen to the rights for Marvel and "Star Wars" content, including movies and TV series.
Disney Chief Content Officer Ted Sarandos told Reuters that Disney’s streaming service would be “complementary” to Netflix.
“That’s why we got into the originals business five years ago, anticipating [negotiations to license content] may be not as easy a conversation with studios and networks,” Sarandos added.
The deal applies to U.S. streaming of Netflix and multi-year deals with Marvel for original content such as “Daredevil,” “IronFist,” “Jessica Jones,” and “Luke Cage,” will not be affected no matter what the outcome of the negotiations, Variety reported.
Netflix stock dropped 7 percent since Monday on the news after hitting record highs last month.
Some Twitter users were skeptical that Disney’s own service would work without Marvel and “Star Wars” content, but others thought it would still be a big draw for families with young children.