Netflix and Disney on Discussion Regarding 'Marvel', 'Star Wars' Films

By Mei Manuel, August 12, 2017 23:08 PM

Netflix Logo(The Verge)

On Thursday, a senior executive of Netflix has said that they are currently on 'active discussions' with Walt Disney regarding the retention of Marvel and "Star Wars" movies in the streaming site after 2019 which is the year when new Disney and Pixar movies will no longer be available for streaming.

The announcement regarding the pull of Disney's films out of Netflix was released on Tuesday, announcing that they will be pulling new Disney and Pixar films out of the streaming site in 2019. The company also said that they will be putting the movies in its own online streaming service that will be released at that same year.

According to Disney's CEO Bob Iger, the company is still uncertain where it will host the films from Marvel Studios and Lucasfilms.

Since the announcement, Netflix's shares were up to 1.3% at $171.41 on Thursday after following the 5% drop after the Disney announcement.

Disney has yet to make a comment regarding Netflix's announcement. However, Iger himself said on Tuesday that they are open into letting Marvel and Lucasfilms be available in Netflix or in another streaming service after 2019. It may even retain the rights to have it streamed online in its own service.

According to Netflix's Chief Content Officer Ted Sarandos, he expected that the Disney's service will be "complementary" to Netflix and the company has also expected Disney's plans to stream its content directly.

He added: "That's why we got into the originals business five years ago, anticipating it may be not as easy a conversation with studios and networks (to license their content)."

It is worth noting that Disney's decision to break from Netflix only applies in the US.

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