Disney shares climb on Netflix deal

Shares in Walt Disney on the New York Stock Exchange made modest gains on Wall Street yesterday (December 4th) on news the motion picture giant has struck a deal with Netflix.

The organisation has signed a high-profile agreement with the online film rental business, but the website will not begin to stream any Disney flicks until 2016.

As well as Walt Disney pictures, productions from Pixar, Lucasfilms and Marvel are also part of the deal.

Disney is the first major studio to stream its feature films to TV viewers via Netflix instead of distributing them to US broadcasters HBO, Showtime and other premium channels.

The agreement will begin after Disney's current deal with Liberty Media's pay-per-view television channel Starz expires.

At close of play on Wall Street last night, Walt Disney made very marginal gains to a value of $49.30 per unit, while the Dow Jones was lower by 0.1 per cent to an index value of 12951.7 points.

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