Fans of Disney films will be able to enjoy there favorite films on Netflix streaming services in the near future.
Walt Disney Studios announced on Tuesday its agreement with Netflix. New films will begins streaming on Netflix in 2016, after Disney's current partnership with Starz ends. Older films like "Alice in Wonderland" and "Dumbo" are available to stream now.
According to Reuters, shares in Netflix jumped up 14 percent after the deal was announced. The move is seen as a big one for Netflix.
"An exclusive deal with Disney differentiates the Netflix content from Hulu Plus and Amazon Instant Video," said Anthony DiClemente, an analyst with Barclays Capital.
It is estimated that Netflix will pay Disney more than $350 million per year to stream its films. However, the Disney catalog also includes Pixar, Marvel, and Lucas Films. Whether the purchase pays off remains to be seen, but fans should be pleased regardless.