Disney ditching Netflix will coincide with the launch of the conglomerate's own, Disney-branded streaming product.
Latest reports confirmed that Disney will be pulling all its movies from Netflix and as part of the plan, will launch its own video streaming service in early 2018.
As for the Netflix piece to this, Disney announced that it will end its distribution agreement beginning in 2019, so you do still have some time to consume Disney content on Netflix.
And a year ago, the BBC also pulled "Doctor Who" from Netflix and Hulu, making Amazon Prime Video the exclusive US streaming service to offer the British TV show.
"This represents a big strategic shift for the company", Iger said to CNBC.
With all its moves into original programming with titles like Orange Is the New Black and House of Cards, Netflix is still wildly dependent on the movies and TV shows it licenses from the major entertainment companies, some of which could follow Disney's lead and cut Netflix off.
Disney has a number of titles on the United Kingdom version of Netflix, but also already has a separate streaming service, Disney Life.
Millar Comics includes the likes of Kick-Ass and Kingsman: Secret Service, which have all been made into major motion pictures. Disney subsidiary Marvel Studios will continue to produce the co-branded Netflix Originals that fall under the Marvel brand such as "Jessica Jones" and "Iron Fist".
Shares of Disney didn't move much on the news as the market was more concerned with hitting DIS stock for its ongoing lousy ESPN situation.
However, it's not yet clear how Disney's other major franchises - including Marvel films and the Star Wars franchise - will be impacted, and whether it will launch internationally.
Yesterday, Disney they're removing their entire library from Netflix by the end of 2018 and are launching two new streaming services over the next two years; one for Disney properties and one for ESPN (which is owned by Disney).
Netflix stock took a dip after the announcement.
"The media landscape is increasingly defined by direct relationships between content creators and consumers, and our control of BAMTech's full array of innovative technology will give us the power to forge those connections, along with the flexibility to quickly adapt to shifts in the market".
"It obviously has suffered a bit from the overall impact of digital technology and new forms of media consumption on the ecosystem".
And Juenger noted that David Letterman announcing this week that he'll host some shows exclusively on Netflix might be an under-appreciated development. More details came from the plan of streaming service which is still very much obscure. Disney will pay $1.58 billion to acquire an additional 42% stake in BAMTech, a company that offers direct-to-consumer streaming technology, among other things.
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