Disney+ achieves 10 mln sign-ups at launch, intensifying competition in streaming arena

Source: Xinhua| 2019-11-14 10:28:30|Editor: Wang Yamei
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LOS ANGELES, Nov. 13 (Xinhua) -- The Walt Disney Company said Wednesday that its new streaming service, Disney+, has achieved a remarkable 10 million sign-ups since its launch on Tuesday.

Disney said in a statement that it "sees extraordinary demand" for "the highly anticipated streaming service."

The launch of Disney+ is a major step for the U.S. entertainment giant to be a leading player in the streaming arena, intensifying competition with digital powerhouses like Netflix and Amazon.

Disney+ is the dedicated streaming home for movies and shows from Disney, Pixar, Marvel, Star Wars, National Geographic, and more, together, for the first time.

"Disney+ is available on any internet-connected screen and offers commercial-free programming with a variety of original feature-length films, documentaries, live-action and animated series and short-form content including series The Mandalorian, High School Musical: The Musical: The Series, The World According to Jeff Goldblum and Encore! and films Lady and the Tramp and Noelle," said the company in a statement.

According to Disney, alongside unprecedented access to the company's incredible library of film and television entertainment and 30 seasons of The Simpsons, the service is the exclusive streaming home for films released by The Walt Disney Studios in 2019 and beyond, including "Captain Marvel," "Avengers: Endgame," "Aladdin," "Toy Story 4," "The Lion King," "Maleficent: Mistress of Evil," "Frozen 2," and "Star Wars: The Rise of Skywalker."

Consumers in the United States also have the opportunity to purchase a Disney bundle featuring Disney+, Hulu, and ESPN+ for 12.99 U.S. dollars per month.

"The launch of Disney+ is a historic moment for our company that marks a new era of innovation and creativity," said Robert A. Iger, chairman and chief executive officer of the Walt Disney Company in a statement on Tuesday.

Disney stock rose 7.32 percent at 148.72 dollars on Wednesday, while Netflix stock ended down 3.05 percent at 283.11 dollars.

Disney+'s 6.99 dollars monthly fee is only nearly half of Netflix's standard 12.99 dollars plan. The pricing is also lower than Amazon Prime Video's 8.99 dollars basic plan per month.

Although Disney+ experienced some technical glitches on its debut day, but the company attributed the issues to excessive expectations caused by overwhelming consumer demand.

Morgan Stanley analyst Benjamin Swinburne previously predicted that Disney+ could attract as many as 20 million subscribers by the end of 2020. In the long term, Disney executives expect Disney+ to reach 60 million to 90 million subscribers by the end of fiscal 2024. But its biggest rival, the streaming giant Netflix, has over 158 million paid memberships in over 190 countries, including over 60 million in the United States.

Disney hopes to launch the streaming service in most major global markets within its first two years. Available now in the United States, Canada and the Netherlands, Disney+ will launch next week in Australia, New Zealand, and in Puerto Rico on Nov. 19.