Disney's animated films including the classics such as "Snow White", "Cinderella", "Aladdin", "Beauty and the Beast", "Moana", and "The Little Mermaid" will all be available to stream when Disney+ launches.
"Disney+ marks a bold step forward in an exciting new era for our company - one in which consumers will have a direct connection to the incredible array of creative content that is The Walt Disney Company's hallmark", said Bob Iger, chairman and chief executive officer for Disney.
"The response in the U.S.so far is as we expected and is tracking similarly to what we saw in Canada following our Q4'18 increase, where our gross additions are unaffected, and we see some modest short-term churn effect as members consent to the price change", Netflix said.
Netflix's growth could take a hit as Apple and Disney's streaming services enter the market later in the year.
Netflix said it expects another 5m people worldwide to sign up to its film and TV streaming service in the second quarter, compared with 5.45m it added in the same period of previous year.
"We believe there is vast demand for watching great TV and movies and Netflix only satisfies a small portion of that demand", he said.
Disney surprised the market last week by pricing its subscription at $7 a month, while Netflix's most popular subscription costs $13 a month. As part of that report, they announced that they have added 1.74 million USA subscribers and 7.86 million worldwide subscribers.
It comes after announcements from both Apple and Disney that they are entering the arena with Netflix and launching their own streaming services. Netflix Revenue also beat expectations with a reported revenue for $4.52 billion.
Disney expects to add almost 60 million-90 million subscribers to Disney+, while it expects to attract 8 million-12 million paying ESPN+ subscribers by the end of fiscal 2024.
Disney+ is set to launch on November 12, and it will offer a streaming library of new and iconic blockbuster movies, TV shows, and animated content on its platform for both adults and kids. Will you sign up at the $6.99 price point? It'll cost $6.99 a month - or half of what Netflix charges for its standard plan.
Disney also announced that all 30 seasons of The Simpsons will be available on Disney+ from day, one and said the first year will include "family-friendly Fox titles" like The Sound of Music, The Princess Bride, and Malcolm in the Middle. The company is working on projects with some of the biggest names in Hollywood, including Oprah Winfrey, Reese Witherspoon and Steven Spielberg. "While it is hard to say that South Korea is an immature market, they want to increase its appeal to young smartphone users".
Apple's offering will launch this fall, but it has not yet revealed a price for the service or said exactly how many shows it will have at launch.