Netflix stock price is getting hit after Disney announces it will start competing with the platform.
Netflix is down 3.32% in after-market trading Tuesday after Disney announced it would be pulling its movies from the platform in order to start a stand-alone service, according to a company release.
Disney's standalone service is set to debut in 2019 when its relationship with Netflix is over.
On Monday, Netflix made its first-ever acquisition, the comic book company Millarworld.
Netflix has said previously how important good, original content is to grow its subscriber base.
Disney is also falling after hours after the company missed earnings, down about 2%
Watch Netflix's stock price in real time...
from pulse.ng - Nigeria's entertainment & lifestyle platform online
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