Disney to Buy Netflix and Multiple Other Streaming Services

Disney+has+done+it+again+and+has+bought+a+multimillion+franchise.

Photo courtesy of Binge Watch

Disney has done it again and has bought a multimillion franchise.

Alice Mancilla, The Scroll, A&E Editor

Netflix is a well-known and extremely popular streaming service that is used by 85 percent of the nation. Netflix’s owner, Reed Hastings, has reportedly sold his multimillion-dollar company to Disney+. Although, this beloved program no longer in the hands of the same owner, hopefully in the future Netflix can remain the same. 

Disney Media has explained that there will be a non-Disney section for Disney with movies that would be available on Netflix and more. The CEO of Disney, Bob Chapek, explains that “Disney plans on expanding the genres available at Disney+. We won’t be incorporating them into parks, but we think our viewers would prefer a wider variety of entertainment.” This deal may have occurred due to the recent 500 percent drop in Disney Plus customers. 

English Teacher, Natalie Ramereiz, explains that “Since Disney+ only has Disney movies there aren’t a lot of choices available for adults. Most of the entertainment is meant for children, which doesn’t draw the attention of people who can actually pay for the subscription.” This is just one example of Disney+ losing the interest of many with their movie choices. 

Many are also wondering why would one of the largest streaming services, Netflix, would sell their company. This deal was made because Netflix was also losing lots of money and viewers. Lots of shows and movies that audiences love had been taken off of Netflix. TV shows like The Office and Friends were taken off of Netflix last year. The number of viewers had reached a total of 1,000 people worldwide according to Netflix Statistics. Reed Hastings, CEO of Netflix, states “We are sad to see the company close, but it is necessary for the company. The amount of money we are producing is nowhere near the amount we are spending.”

Although people all over the world will miss Netflix, Disney+ will have a wider range of entertainment for adults. In the future, it is still uncertain whether or not Dinsey will be consuming other streaming services to get rid of the competition. Bob Chapek, CEO of Disney, claims “Hulu and HBO, you’re next.”

 

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