Disney+ hits 10 million subscriptions since Tuesday launch

Walt Disney Co.’s debut in the streaming media, Disney+ has hit over 10 million sign-ups since its launch on November 12. As per reports, Disney is planning to launch its on-demand video streaming service in India and some south-Asian markets late next year.

“Disney+, the highly anticipated streaming service from The Walt Disney Company, has already reached a major milestone, achieving a remarkable 10 million sign-ups since launching,” the Walt Disney Co. said in a press statement on Wednesday.

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The service was launched in the United States, Canada and the Netherlands on November 12, and costs $7 per month and $70 per year after a seven-day free trial. It features around 500 movies and 7,500 episodes of television from Disney, Pixar, Marvel, Star Wars, National Geographic and more.

Earlier this year, Disney had said that it expects to reach 60-90 million subscriptions by 2024. Its nearest rival Netflix has about 158 million subscribers that it garnered since its launch in 2007, with 60 million alone in the US.

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The launch of Disney+ also witnessed a rise in the company’s shares — 1.2% to $138.48 — while Netflix dropped 1.2% to $290.58 in afternoon trading. Wednesday’s trading session in NYSE ended with Disney’s shares rising by 10% to $148.72, reports said.