Disney has announced that the company will be removing its movies from Netflix in 2019 and launching its own streaming service, upon acquiring a sizable stake in BAMTech, a major streaming and marketing outfit.

Disney hopes to reengage audiences with the streaming platform, as its networks like ESPN have fallen in popularity due to the change in ways that people consume content.

It is being reported that the company will pay $1.58 billion USD for majority ownership of the aforementioned BAMTech, following August 2016's acquisition of a 33% stake.

Disney will then unleash an ESPN-branded streaming service in 2018, followed by a Disney-themed variation in 2019. The Disney platform will in turn be the only place that viewers can enjoy Disney and Pixar titles, while also featuring material from the Disney Channel, Disney Junior and Disney XD.

The ESPN provider is expected to offer roughly 10,000 events a year, in addition to live programming for numerous games.

For now, Marvel series such as Luke Cage, Jessica Jones and The Punisher will be available on Netflix.

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