Disney has announced the name of its new streaming service during a live webcast of its fourth-quarter financial results. Disney+ (Disney Plus) was revealed late Thursday by the company's chief Bob Iger, who said the platform will launch in the U.S. in late 2019.

It is anticipated the service will compete with streaming giant Netflix, which Disney will be pulling its content from next year.

At the announcement, Iger said the new platform will feature historic and original content including new Star Wars and Marvel series. Disney purchased Rupert Murdoch's 21st Century Fox for $71.3 billion in July.

Iger has said the purchase was about boosting Disney's content library. On Thursday, the company reported fourth-quarter earnings that exceeded expectations by as much as 2 percent.