Disney to close its ‘vault’ for good

The Disney ‘vault’ is closing for good, as the home entertainment giant prepares to shift its colossal film library over to its own streaming service, Disney+.

The Disney ‘vault’ is officially closed.

CEO Bob Iger confirmed during the company’s annual shareholder meeting this week that the Disney vault is no more.

But before 90s kids everywhere burst into tears, fans can still access all their childhood favourites.

You’ll just have to fork out for a subscription to the company’s latest streaming service, Disney+.

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Disney is set to seal its famous 'vault', permanently. Picture: iStock

Chairman and CEO of The Walt Disney Company Bob Iger made the announcement at an annual company meeting on Thursday. Picture: Rodin Eckenroth/Getty Images

WHAT IS THE DISNEY VAULT?

For anyone who was alive before streaming services took off, most Disney classics were enjoyed via chunky VHS tapes. Yes, we’ve included a picture for reference. Because yes, it really has been that long.

Please enjoy this generic image of a classic VHS cassette in its natural habitat.

In a stroke of creative genius, Disney’s marketing department conjured the idea of the ‘Disney vault’ to boost sales.

The idea was that certain Disney films would only be available for a limited time before they’d be placed in the “vault”, safely stored away for a few years before being re-released again for purchase (temporarily, of course).

The marketing ploy became a longstanding tradition and Disney-lovers often flocked to buy their favourites once they were freshly released.

Once Disney+ launches, Disney content won't be accessible anywhere except via the new platform. Picture: iStock

DISNEY GOES DIGITAL

Home movies have drastically changed in the 40 years since Disney was founded. So naturally, the worldwide entertainment company has had to change with it.

In order to cater to the demand to stream Disney content, the company announced in 2017 that it would be diving headfirst into the streaming world with its own dedicated platform: Disney+.

While there is still no confirmed release date for the service, it’s already being pegged as a major rival for streaming’s big fish: Netflix, Amazon and Hulu.

In order to gain an edge over their well-established rivals, Disney’s betting hard on exclusivity.

Disney’s new streaming service promises to house its latest films as well as the classics. Picture: iStock

According to The Verge, CEO Bob Iger told shareholders that Disney+ “at some point fairly soon after launch” will carry films that “traditionally have been kept in a ‘vault’ and brought out basically every few years”.

The policy change comes after the brand took a huge gamble, taking a $150 million hit to remove its films from Netflix.

But it may pay off in the long run, once Disney movies won’t be available to stream anywhere but Disney+ — that includes YouTube, Netflix, or even Disney’s TV channels.

Iger confirms the entire Disney vault will be part of Disney+.

My wallet is out.

— Scott Gustin (@ScottGustin) March 7, 2019

Ok, if the entire Disney Vault will be on Disney+ I may have to seriously consider it now.

— Tina (@EmpressTina) March 7, 2019

(very Christopher from the Sopranos voice)
Of course I'm gettin' the Disney streaming service! You kiddin? It's gonna have all the vault movies! You know what's in the Disney vault right now? Fuckin' Aladdin. Get outta here!

— anne victoria clark (@annevclark) March 7, 2019

Disney is busting open the Vault to put literally everything on Disney+? I can get behind that. Break the Disney Vault!

— Aaron H. (@Cyber_Fox_) March 7, 2019

Based on the reactions of diehard Disney fans on social media, Disney seems to have made the right choice.

Given the company’s promise that Disney+ will cost “substantially less” than Netflix, this seems like a sure-fire way to hook more subscribers that Netflix’s 139 million. And fast.

Fans could be paying less than $13.99 per month (the average Netflix spend) to tap into Disney’s entire motion picture library, including movies traditionally kept in the vault.

And that’s not to mention the live-action remakes Disney currently has in the works — think Aladdin, Dumbo and The Lion King — which will no doubt be released exclusively on the platform.

Not too shabby.

Disney+ is expected to debut by the end of 2019.