Disney: shares jump after streaming service update

(CercleFinance.com) - Disney shares jumped over 10% on Friday, one day after the US entertainment giant outlined plans to drive the growth of its streaming platforms.


At a virtual investor day late on Thursday, the Burbank, California-based company revealed what it called "ambitious" goals as part of its global streaming expansion.

Disney said it now expects its streaming services to hit 300-350 million total subscriptions by fiscal year 2024, driven primarily by a significant increase in content.

During the presentation, the company said that its streaming services had recently exceeded 137 million global paying subscriptions.

This number includes 11.5 million ESPN+ subscribers, 38.8 million Hulu subscribers, and a "staggering" 86.8 million Disney+ subscribers since its launch in November 2019, the group said.

Disney also announced that, from March 2021, Disney+ will be priced in the US at 7.99 dollars per month, compared to 6.99 dollars now.

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