(Adds detail on new streaming service)
Aug 8 (Reuters) - Walt Disney Co will stop providing new movies to Netflix Inc starting in 2019 and launch its own streaming service, the company said on Tuesday, as it tries to capture digital audiences who are ditching traditional television.
The new Disney-branded streaming service will follow a similar ESPN service that will be available starting in 2018, the company said.
Disney said it would pay $1.58 billion to buy an additional 42 percent stake in video-streaming firm BAMTech. Last year, Disney said it was taking a 33 percent stake in BAMTech for $1 billion.
The announcement came as Disney reported a near 9 percent fall in quarterly profit, pulled down by higher programming costs and declining subscribers at its flagship sports channel ESPN.
The company's revenue fell marginally to $14.24 billion in the third quarter ended July 1 from $14.28 billion a year earlier.
Net income attributable to the company fell to $2.37 billion, or $1.51 per share, from $2.6 billion, or $1.59 per share. (Reporting by Aishwarya Venugopal in Bengaluru; Editing by Savio D'Souza and Bill Rigby)