Disney+ streaming service reaches 10 million sign-ups, shares surge

By Helen Coster (Reuters) - Walt Disney Co on Wednesday said its new streaming service, Disney+, has reached 10 million sign-ups since launching on Nov. 12, sending shares up 3.5% to $143.53 on the New York Stock Exchange

Reuters November 14, 2019 00:06:19 IST
Disney+ streaming service reaches 10 million sign-ups, shares surge

Disney streaming service reaches 10 million signups shares surge

By Helen Coster

(Reuters) - Walt Disney Co on Wednesday said its new streaming service, Disney+, has reached 10 million sign-ups since launching on Nov. 12, sending shares up 3.5% to $143.53 on the New York Stock Exchange.

In April the company said it plans to reach 60 million to 90 million Disney+ subscribers globally by 2024.

The service, which launched in the United States, Canada and the Netherlands, was hit with technical glitches that the company said were caused by higher-than-expected demand as it takes on rival Netflix Inc .

Netflix currently has over 60 million subscribers in the United States and 158 million globally.

Disney+ costs $7 per month and features roughly 500 movies and 7,500 TV episodes from the company’s deep family entertainment catalogue as well as new programming.

Disney said moving forward, it has no plans to release Disney+ subscriber data outside of the company's quarterly earnings calls.

(Reporting by Helen Coster; Editing by Lisa Shumaker)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

also read

Guinea president 'captured', govt dissolved, claim army putschists'; attack on presidential palace repulsed, say authorities
World

Guinea president 'captured', govt dissolved, claim army putschists'; attack on presidential palace repulsed, say authorities

Reports suggest that they captured President Alpha Conde and dissolved the government, bust the ground situation remains unclear

Cryptocurrency prices tumble and exchange trading falters as snags crop up
News & Analysis

Cryptocurrency prices tumble and exchange trading falters as snags crop up

NEW YORK (Reuters) -The price of cryptocurrencies plunged and crypto trading was delayed on Tuesday, a day in which El Salvador ran into snags as the first country to adopt bitcoin as legal tender. Shares of blockchain-related firms also fell as crypto stocks were hit by trading platform outages. But the major focus was on El Salvador, where the government had to temporarily unplug a digital wallet to cope with demand.

Ford poaches Apple's car project chief Doug Field
News & Analysis

Ford poaches Apple's car project chief Doug Field

By Joseph White and Sanjana Shivdas (Reuters) -The head of Apple Inc's car project, Doug Field, is going to work for Ford Motor Co to lead the automaker's advanced technology and embedded systems efforts, a hiring coup for Ford Chief Executive Jim Farley.