May 15, 2019

Netflix (NASDAQ: NFLX) announced its acquisition of StoryBots, creators of the award-winning, original Netflix series Ask the StoryBots, for an undisclosed sum, reports CNBC. To date, StoryBots has produced two seasons of its series with a third expected later this year. The program is currently available in 22 languages in 190 countries, says CNBC. Once the deal closes, StoryBots will create even more educational kids content for Netflix. This move may help Netflix replace Disney content which will be pulled from Netflix later this year when Disney+, a direct-to-consumer streaming video subscription, launches. Netflix will have to compete with Disney content including The Simpsons, Disney originals, Marvel, Star Wars and Pixar.