The news was first reported by the Financial Times.
The new service, called DisneyLife, will offer thousands of Disney Channel episodes and hundreds of books, albums and movies, ranging from the complete Pixar catalogue, which includes the Toy Story series, to classics such as Snow White, Lady and the Tramp and The Jungle Book.
“This is the future, in many respects,” said Bob Iger, Disney’s chief executive, to the FT. “We’re seeing more and more opportunities to reach consumers directly and not through middlemen, and we’re seeing consumers wanting product in different ways.”
DisneyLife will cost £9.99 a month. Subscribers will be able to stream or read content in English, French, German, Italian and Spanish. Families will be able to create profiles for users based on favourite Disney characters. The content can also be downloaded to watch offline.
Disney will expand the service across Europe next year, with the goal of launching in France, Spain, Italy and Germany. There are no plans to launch in the US.