The streaming service will not include access to live ESPN channels, as users are still expected to subscribe to traditional pay-TV.
It still sounds like the service will have tonnes of sports programming on deck, though, with about 10,000 live regional, national, and global games and events a year, including from Major League Baseball, National Hockey League, Major League Soccer, Grand Slam tennis, and college sports.
"We're excited about what lies ahead, with a robust film slate, the launch of our ESPN direct-to-consumer business, new investments in our theme parks, and our pending acquisition of Twenty-First Century Fox", Iger said.
The new ESPN+ streaming service, which subscribers will also reach through the app, will be the online home of some other original ESPN programs, such as the "30 for 30" documentary series, Iger said.More news: SpaceX launches world's most powerful rocket
More news: Barnaby Joyce 'incredibly hurt' by media revelations about his private life
More news: US says Russia protecting Assad in chemical gas attacks
Speaking on the company's first quarter earnings call, Iger said that the service will be priced at US$4.99 and per-month and will be available on a variety of platforms including iOS, Android, tvOS, Chromecast, with more to follow.
The upcoming ESPN Plus service will be an add-on to the existing ESPN application.
And via ESPN Plus, users will have access to "an array of live programming that is not available. on the current channels, and that's by the thousands".
The service will be called ESPN Plus, and live inside a new app that will be launched by the sports broadcasting network in spring 2018 - much earlier than Disney's more general subscription streaming service that will launch in 2019. "It will enable access to live streams of all ESPN's networks", Iger noted. There will also be scores, video highlights and links to past episodes of ESPN shows such as "Pardon the Interruption" and "SportsCenter". "We feel the faster we make the experience, more usage comes from that". "Users will also enjoy an increasingly personalised experience as the app blends explicit choices with implicit behaviour to curate a unique mix of specific, relevant content tailored to the taste of each individual user". "Last year, we did 65,000 hours". And we do not believe that there is satiation for sports fans who want to watch their teams play - whether it's a Division III college, whether it's a volleyball team in Texas, or we met today with a secondary soccer league in this country. We don't think it's anti-cannibalization.