Finance

Disney Set to Launch Direct to Consumer Services

Acquires majority ownership of BAMTech 8/08/2017 3:59 PM Eastern

The Walt Disney Co. said it plans to begin launching Disney and ESPN branded direct to consumer products.

Disney said it acquired a majority ownership in BAMTech LLC to serve as the technology backbone for the new products.

RELATED: Disney Buys One-Third of BAMTech for $1 Billion  

The announcements came as the company announced lower profits in its third quarter.

RELATED: Michael Paull Named CEO of BAMTech

Disney said it will pay $1.58 billion to acquire an additional 42% stake in BAMTech, the technology services and video streaming spin-off of MLB Advanced Media (MLBAM).

RELATED: BAMTech CTO: OTT Providers 'Have to Produce Every Day'

The first direct to consumer products will be an ESPN-Branded multi-sport video streaming service that will launch in early 2018. It will be followed by a Disney braded streaming service in 2019.

Read more at B&C.

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