Disney+ Passes 10 Million Subscribers & Stock Rises More Than 3%

A day after it’s launch, Disney+ has surpassed the 10 million subscriber mark. The prediction ahead of the launch by analysts was that Disney+ would reach near 8 million subscribers by years end with the help of Verizon Wireless’s complimentary one year subscription to some of it’s customers.

There were some technical difficulties on the opening day of the service and while that may seem like a regular thing when it comes to Disney and their apps and websites, perhaps the higher than expected subscribers using the service contributed to the issues many users experienced on opening day.

Disney-owned Hulu, which has an advertising-based streaming model, claimed more than 28 million subscribers in May. Of those subscribers, 26.8 million are monthly paying customers, while the remaining have promotional accounts. Netflix claimed more than 60 million paid domestic members in its third quarter of 2019 and over 97 million international paid members.

Midday on Wednesday, Disney’s stock was up more than 3% on the news while Netflix’s shares were down 1%.

Source: CNBC