Disney announces their new streaming service Disney+

The long rumoured Disney streaming service has been officially announced, called Disney+ the service will offer streaming of new and old shows built around its most popular franchises and will charge a monthly fee of $6.99 or a yearly fee of $69.99. The new service will take on Netflix who currently have a partnership with Disney.

Disney Chief Executive Robert Iger has called Disney+ his No. 1 priority and spent $71.3 billion on 21st Century Fox to boost the number of movies and shows it can offer customers.

Disney has given up hundreds of millions of dollars in Netflix licensing fees so they could hold on to Disney content for their new service, and Chief Executive Iger has even delayed his own retirement to see through the service launch which could result in the company making millions of dollars in profit as users will now have to decide if they want to purchase a new subscription service in order to access Disney’s vast content library.

Disney+ will also be taking on Apple’s new streaming service Apple TV+ which they recently announced. Disney will have an edge as it already owns Twentieth Century Fox Film Corporation, Lucasfilm Ltd. Marvel Studios. Disney+ will launch on November 12th and will be available in Europe and Asia next year.