LOS ANGELES — Disney set off a sonic boom in Hollywood by unveiling plans to start two Netflix-style services: For the first time in the streaming age, the world’s largest media company had decided that embracing a new business model was more important than clinging to its existing one.

Disney’s decision to better align itself with consumer trends — deemed “a rare and impressive pivot” by RBC Capital Markets — instantly reverberated through the entertainment industry. Disney’s cable channels, which include ESPN, have long been seen as the reason many viewers were refraining from cutting the cord entirely. If Disney was going all in on streaming, the impact would be felt by almost every television company and cable operator.

As part of its announcement on Tuesday, Disney said that it would spend heavily on original programming for its entertainment streaming service and pull future Disney and Pixar movies from Netflix. That sent Netflix shares downward. The question seemed to be, how would Netflix, even with its head start in terms of audience and reach, manage without the mighty mouse? And would Disney’s plunge into streaming encourage the likes of Discovery and Viacom to do the same, intensifying competition?

And would viewers who want to eschew traditional cable subscriptions eventually find themselves overwhelmed by the sheer number of streaming services they would need to cobble together to watch what they wanted to watch?