Disney to Close Online Movie Store
The Walt Disney Co. (NYS: DIS) is shutting down Disney Movies Online. It posted a notice yesterday on its disneymoviesonline.go.com website announcing the site's closure effective Dec. 31. Customers can continue to stream existing movies until Dec. 31, but can no longer make purchases, upgrades, or Magic Code entries on the website. Magic Code entries can still be used on DisneyMovieRewards.com.
Prior to closure, the site had enabled Disney customers to rent and buy movies from Disney's extensive library of films, as well as to stream movies that had been previously purchased in disc form to a Web browser with use of said Magic Code. The site's capabilities never reached the level of rival streaming sites such as Netflix (NAS: NFLX) . According to an Associated Press report, Disney said the site lacked "the flexibility that many users today demand." Disney is phasing it out in favor of a new service called Disney Movies Anywhere, The Associated Press reported, although this new service is not yet operational.
Disney advised that customers who wish refunds for movies already purchased or upgraded on Disney Movies Online can email the company at any time through the end of February, and will receive a check in the mail in compensation.
The article Disney to Close Online Movie Store originally appeared on Fool.com.Fool contributor Rich Smith has no positions in the stocks mentioned above. The Motley Fool owns shares of Walt Disney and Netflix. Motley Fool newsletter services recommend Walt Disney and Netflix. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.