Disney's massive streaming gamble has arrived. It may change the TV industry forever

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Disney has spent more than $3 billion on technology and content in an ambitious bid to take on Netflix at its own game.

After two years of planning, the Walt Disney Co. on Tuesday finally launches Disney+, the much anticipated streaming service that marks one of the Burbank company’s biggest gambles to date.take on Netflix at its own game

The 96-year-old company’s push into direct-to-consumer entertainment was a primary driver of its biggest acquisition ever,of much of Rupert Murdoch’s 21st Century Fox. That deal closed in March after a bidding war with rival Comcast Corp., resulting in months of haggling that ultimately drove up the price that Disney had to pay for the Fox assets, including control of streaming service Hulu, the National Geographic channels and ownership of “The Simpsons.

“We’ve worked extremely hard to create a service that’s second to none,” Mayer said last week during a preview at the company’s headquarters in Burbank. The company is hoping to lure subscribers with its first live-action “Star Wars” series, “The Mandalorian”; a new “High School Musical” show and multiple Marvel series from the superhero studio’s guiding light, Kevin Feige.

Analysts have speculated that Disney will sign up 5 million to 10 million customers for Disney+ this year. Company executives declined to share their forecasts beyond saying they expect 60 million to 90 million customers globally by 2024. But Disney has struggled in the past with tech-related ventures. Its pricey acquisition of YouTube network Maker Studios fizzled, as did the online game network Playdom and Club Penguin. In 2001,, acknowledging that the site’s services and content were subpar.

 

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