Walt Disney to pull content from Netflix and launch streaming service, TYT Network receives $20 million from investors including Jeffrey Katzenberg’s WndrCo and Hopscotch signs 40 collegiate programs for sports app.
Walt Disney Co. announced on Tuesday plans to pull new film content from Netflix and launch its own online streaming television service starting in 2019, reports Reuters. The streaming services will give Disney “much greater control over our own destiny in a rapidly changing market,” Chief Executive Bob Iger told analysts on a conference call, describing the moves as an “entirely new growth strategy” for the company.
TYT Network raised a $20 million round led by growth equity firm 3L Capital with participation from Greycroft, E.ventures and Jeffrey Katzenberg’s WndrCo., reports Variety. The company said it will use the investment to hire additional management executives and creative talent, as well as enhance its subscription-video offering and expand marketing initiatives.
Sports app developer Hopscotch of El Segundo announced on Monday that it signed up more than 40 athletic programs as customers last month, reports the Business Journal. The developer’s app provides breaking sports news, season schedules, player statistics, live scores and promotions, as well as the ability to buy tickets.
Technology reporter Garrett Reim can be reached at firstname.lastname@example.org. Follow him on Twitter @garrettreim for the latest in L.A. tech news.