Netflix has a new competitor and they are a big one. Disney has just released a statement that they will be pulling all of their content from Netflix in favour of starting their own Disney exclusive streaming service that will be launching in 2019.

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This also comes with news that they will be extending this launch to include an ESPN video streaming service a year earlier in 2018. The ESPN service will offer content ranging from MLB, NHL, MLS and college sports as well as notable tennis events such as the Grand Slam. While the Disney service will offer all of the brand's content ranging from titles like Moana to Star Wars. 

Disney's decision to start their own streaming platform happened because they want full control versus continuing to partner with Netflix. Only time will tell what effect this will have on the Netflix brand overall but with its stock dropped 5% today with the potential for things to get worse for Netflix. 

Don't worry though! Luckily the Disney film loss will only be affecting US Netflix users. Seeing as Netflix has different deals with their international markets, including Canada. So no pre existing Disney films or ones scheduled in the future will be pulled from Canadian Netflix!

If you are American though, don't worry for now at least! Disney won't start pulling the titles on Netflix anytime soon since their partnership lasts until 2019 including pre agreed on releases such as the next two Star Wars movies. So don't take those Disney titles in your Netflix suggested tab for granted because come 2019 they'll be gone! 

Source: CNBC