In order to compete with those services, Disney is acquiring Twenty-First Century Fox's film and entertainment assets - and it is developing a streaming service that will incorporate Disney and Fox content.
When Disney launches its streaming service next year, don't expect to be able to stream all of Disney's biggest franchises, including Star Wars.
Come 2019, Disney will do its best Thanos impression and snap their movies up from Netflix. Disney's shareholders and United States regulators have approved the Fox bid.
Considering that CBS All Access's Star Trek: Discovery was one of the most expensive shows in TV history with a budget of between $8 million and $8.5 million per episode then it becomes apparent just how much Disney is investing in both Favreau's show and its streaming service at large.
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It's not like it hasn't been done before, hopefully I take my chance. I had a flat tyre the day before so had to get a lift with a mate.
But Iger said that movies Disney plans to release in 2019, including "Captain Marvel", "Dumbo", "Toy Story 4" and "Frozen 2", won't be encumbered by licensing deals and can go straight to the service soon after their theatrical releases. The lower price point reflects Disney's strategic decision to offer less overall content than its red-lettered competitor, although, unlike Netflix, all the content appearing on the new service will carry Disney's in-house development DNA.
According to Bob Iger, Star Wars movies released before next year will not be on the new service. Adjusted earnings per share totaled $1.87, less than the Street's expectation of $1.95.
Net attributable income rose 23% to $2.92bn (£2.25bn), or $1.95 per share, in the period ended 30 June, from $2.37bn (£1.83bn), or $1.51 per share, a year ago.
Revenue rose 7 percent to $15.23 billion - also missing forecasts.
Revenue from the movie and TV production business jumped 20 percent to $2.88 billion (about Rs. 19,800 crores), boosted by a strong box office for "Avengers: Infinity War" and "Incredibles 2".