Burbank - Walt Disney Co priced its highly anticipated streaming video service below Netflix in an aggressive move to challenge the dominant streaming service and entice families to buy yet another monthly subscription.
"What we are putting forward is an aggressive strategy," Disney Chief Executive Bob Iger told analysts at the presentation. "We've got to be very serious and all in on it." Patrice Cucinello, a director at Fitch Ratings, said Disney had priced the new service "very affordably." Disney kicked off its presentation to Wall Street analysts at its Burbank, California, headquarters on Thursday with a video that demonstrated the breadth of its portfolio, showing clips from dozens of classic TV shows and movies from "Frozen" and "The Lion King" to "Avatar" and "The Sound of Music."
The digital push is Disney's response to cord-cutting, the dropping of cable service that has hit its ESPN sports network and other channels, and the rise of Netflix Inc. The Silicon Valley upstart has amassed 139 million customers worldwide since it began streaming 12 years ago.
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