Disney's Netflix competitor will be called Disney+

Disney will call its 2019 subscription video on-demand product Disney+, CEO Bob Iger told investors on the company's third quarter earnings call Thursday. Disney's direct-to-consumer unit earlier this year launched ESPN's subscription product called ESPN+.

Why it matters: Disney is hoping its $71.3 billion investment in 21st Century Fox's entertainment assets (movie franchises, TV networks, movie studios, etc.) will help it obtain and create enough intellectual property to be able to lure Netflix subscribers to pay for its video content.