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AP Photo/Richard Drew

Disney is revealing more details about its new over-the-top digital entertainment app that will launch in 2019.

Why it matters: Legacy entertainment businesses are becoming very difficult to sustain in an era where consumers want on-demand, digital video that they can access at scale from tech companies like Netflix and Facebook. Linear options, like movies delivered in theaters and primetime shows on cable TV, are becoming less appealing to consumers who want to watch everything on their own time and across many digital devices. This is part of Disney's push to be a competitor to Netflix in the direct-to-consumer entertainment space.

The details:

  • The new OTT product will be priced "significantly lower than Netflix," CEO Bob Iger says. Iger notes that the service will launch with less volume than Netflix but with quality content that centers around three of its top brands: Pixar, Marvel and Star Wars.
  • The new streaming service will be commercial free, according to Iger. While the Walt Disney Co. plans to integrate commercials into its sports streaming app, Iger says "We're not planning to have the programming that airs in the DTC service interrupted by commercials." Iger did say that sponsored programmed is being considered.
  • The name of the product has yet to be determined, says Iger. "We're working on the cadence in which we will schedule and produce in the OTT service."
  • A brand new Star Wars trilogy coming to Disney. It will be launched by the Star Wars: The Last Jedi Director Rian Johnson, who will write and produce the trilogy with producer Ram Bergman.

Go deeper: Disney is reported to have approached 21st Century Fox about a deal to acquire its entertainment and studios businesses, including 21st Century Fox studios as well as National Geographic, FX cable channels and more.

Go deeper

Dan Primack, author of Pro Rata
9 mins ago - Economy & Business

Gen Z breaks into VC

Illustration: Aïda Amer/Axios

When Meagan Loyst joined VC firm Lerer Hippeau, less than two years out of Boston College, she was still living with her parents. She had virtually no online brand presence, and the pandemic made it impossible to build a professional network via in-person meetings.

Why it matters: Loyst wasn't alone. Venture firms have accelerated hiring in line with record deal activity, often seeking younger investors who can spot trends that fly below the radar (or intrinsic understanding) of older partners.

White House aims to protect workers from extreme heat

Two pear pickers in Hood River, Oregon on August 13, 2021. (Michael Hanson/AFP via Getty Images)

The White House announced a slew of actions Monday, including the start of a rule-making process at the Occupational Safety and Health Administration (OSHA), to protect American workers from extreme heat.

Driving the news: The U.S. just had its hottest summer on record, with triple-digit-temperatures killing hundreds in the Pacific Northwest and exposing outdoor workers to dangerous conditions.

Robert Costa: Gen. Mark Milley "was not going rogue" with China calls

Washington Post journalist Robert Costa on Monday said in an interview with ABC's Good Morning America that Joint Chiefs Chairman Mark Milley "was not going rogue" when told his Chinese counterpart that the U.S. would not launch a surprise attack.

Driving the news: President Biden last week expressed "great confidence" in Milley after excerpts released from Costa's and Bob Woodward's book "Peril" revealed calls where Milley admits he would let China know ahead of time if former President Trump decided to attack.