The service, called Disney Plus, will cost $US6.99 ($NZ10.40) per month. That is cheaper than rival Netflix, which charges $US13 per month for its most popular streaming plan, but the Disney service will have a narrower focus on family-friendly shows and movies.
Disney revealed details about the service at an investor event on Thursday (Friday NZ time) in Burbank, California.
The streaming service is expected to take on rivals Netflix, HBO Go and Showtime Anytime. Disney also owns a controlling stake in streaming service Hulu.
Disney Plus will be able to draw upon a library of revered films dating back several decades while it also produces original programming.
The new shows already announced include The Mandalorian, the first live action Star Wars series, created by Jon Favreau; a prequel to the Star Wars film Rogue One starring Diego Luna; a series about the Marvel character Loki starring Tom Hiddleston; a rebooted High School Musical series and a new documentary series focused on Disney.
The service's entire lineup will cover five categories: Disney, Pixar, Marvel, Star Wars and National Geographic.
Disney ended a lucrative licensing relationship with Netflix in order to create the streaming service and faces challenges as it builds a service to compete with the entrenched streaming leaders.