Look out Netflix: Disney says today that it will end its theatrical distribution deal with Netflix beginning in 2019 to feed its releases to a new Disney-branded streaming service launching that year.

The company also announced that its ESPN-branded streaming service will launch in early 2018.

Both will be powered by BAMTech’s technology: Disney agreed to pay $1.58 billion for the 42% stake owned by MLBAM, Major League Baseball’s interactive media and Internet company of Major League Baseball. Disney already owns 33% and is accelerating part of the agreement that enabled it to buy a majority.

The Disney-branded service will be “the exclusive home in the U.S. for subscription-video-on-demand viewing of the newest live action and animated movies from Disney and Pixar,” the company says.

Iger told analysts to think of this as a global service. There’s no decision yet on whether to include Marvel and Lucasfilms releases. The company is thinking about having separate services for them. “It’s all in discussion.”

The 2019 slate, to go on the new service, will include Toy Story 4, the sequel to Frozen, and The Lion King from Disney live-action.

The company adds that it also will “make a significant investment in an annual slate of original movies, TV shows, short-form content and other Disney-branded exclusives for the service.”

It will also include library content from its Disney and Pixar libraries as well as Disney Channel, Disney Junior and Disney XD television programming.

“This acquisition and the launch of our direct-to-consumer services mark an entirely new growth strategy for the Company, one that takes advantage of the incredible opportunity that changing technology provides us to leverage the strength of our great brands,” CEO Bob Iger says.

The announcement came as Disney announced its June quarter earnings. Company shares are down 2.7% in initial post-market trading. Netflix is down 3.4%.

Disney had previously said that it planned to launch an ESPN-branded digital subscription service, accessed via its app.

It says today that it will include “approximately 10,000 live regional, national, and international games and events a year, including Major League Baseball, National Hockey League, Major League Soccer, Grand Slam tennis, and college sports. Individual sport packages will also be available for purchase, including MLB.TV, NHL.TV and MLS Live.”

It will also have news, highlights, and scores.

Iger says that the service will be “even more robust than the one we had anticipated.” He has not briefed ESPN’s cable and satellite distributors on his online sports plans.

The online service, and purchase of BAMTech, “does give us optionality in the future” as people increasingly access video from the internet.

The BAMTech deal is subject to regulatory approval. When it closes, Iger will become chairman of its board with . MLBAM and NHL remaining as minority stakeholders

Disney says that the BAMTech transaction will be “modestly dilutive” to earnings for two years — with more dilution depending on how much it spends on the new services.

Disney made its announcements just as it released its earnings for the June quarter.

Net income at $2.37 billion was down 8.9% vs the period last year, on revenues of $14.24 billion, down 0.3%. Analysts expected the top line to hit $14.42 billion.

Adjusted earnings at $1.58 per share beat estimates for $1.55 — but included an income tax benefit from the adoption of new accounting rules for employee share-based awards.

Cable network revenues fell 3% to $4.09 billion; ESPN had five fewer NBA playoff games than it did last year and a more expensive contract. Operating income fell 23% to $1.46 billion due to ESPN’s “higher programming costs, lower advertising revenue and severance and contract termination costs.”

There’s no decision yet on whether to include Marvel and Lucasfilms releases. The company is thinking about having separate services for them. “It’s all in discussion.”