It looks like Netflix's negotiations to keep Disney's Marvel and Star Wars movies on the site have fallen through.
Netflix may have tried to save a few of its Disney-related material after the Mickey Mouse House announced that it was planning to create its own streaming platform last month, however, a new announcement by Disney CEO Bob Iger reveals that that the company has every intention of keeping moving out its Marvel and Star Wars content to prepare for the launch of its own streaming service in 2019.
Speaking at the Bank of America Merrill Lynch Media, Communications and Entertainment conference (via Variety) earlier today, Iger confirmed that its Star Wars and Marvel movies on Netflix will be pulled out and mixed along with its exclusive, brand new original programming for its upcoming streaming platform.
"We've now decided we will put the Marvel and ‘Star Wars' movies on this app as well," Iger added during the question-and-answer portion of the Conference.
Though fans will be excited to hear that Disney is planning to produce about four or five original films and an "equal number of original series and TV movies" for its platform, Netflix subscriber's won't be too happy hearing the news.
This is a big blow to Netflix which has accumulated a massive number in debt and has been battling with competition like Amazon and Hulu.