Looks like Disney is moving forward with that Netflix competition streaming service of theirs, having just hired former Apple and Samsung executive Kevin Swint as SVP and GM at BAMTech Media, a subsidiary of the Walt Disney Company.
Swint will be building Disney’s SVOD service, announced last year amid the removal of Disney films and TV series from Netflix’s current library. Swint was hired this month, and will be directly reporting to BAMTech CEO Michael Paull, a spokesperson told Variety.
While at Apple, Swint headed iTunes movies for five years at the company before heading to Samsung, where he was the VP of product/content & services and built their Milk Music/Milk Video streaming services. So, he’s no stranger to the lay of the land.
The House of Mouse did not renew its distribution agreement with Netflix, and future Disney movies will instead be streaming on the company’s own service, starting with their planned 2019 theatrical releases.
In order to adequately run this new streaming service, Disney purchased a larger stake in BAMTech (streaming solutions provider) for the sizable sum of around $1.58 billion last year, sources say. They previously held about 1/3 of the company but now Disney reportedly holds the majority ownership.
There is no real understanding (yet) of how this streaming service will maybe impact the acquisition of 20th Century FOX and related medias in future years. Maybe Disney will then add the slate of FOX branded films and television shows to their own SVOD, depending on existing contracts with companies such as Hulu, Amazon, and Netflix.
It will also be interesting to see how the eventual launch of the Disney streaming service impacts Netflix’s subscription numbers and bottom line.