Streaming wars heat up as rivals prepare to challenge Netflix

WASHINGTON/SAN, FRANCISCO - Some of the biggest names in media and tech are gearing up to move into streaming in what could be a major challenge to market leader Netflix. Apple is expected to make its move with an announcement March 25 on its media plans, with a war chest estimated at some $1 billion and partners including stars like Jennifer Aniston and director J.J. Abrams involved in content. Walt Disney Co. has announced its new streaming service Disney will launch this year, as will another from WarnerMedia, the newly acquired media-entertainment division of AT&T. The new entrants, with more expected, could launch a formidable challenge to Netflix, which has some 140 million paid subscribers in 190 markets, and to other services such as Amazon and Hulu. "It's really going to change the industry," said Alan Wolk, co-founder of the consulting firm TVREV who follows the sector.