With 50 Million Disney+ Subscribers, the House of Mouse Has Morphed Into a Streaming Powerhouse
Less than five months after its launch, Walt Disney's (NYSE: DIS) new streaming service has already garnered more than 50 million subscribers, the company announced after market close on Wednesday. The service, called Disney+, has been a major hit with consumers.
Even more, Wednesday's news highlights how the timing of the streaming platform's launch couldn't have been better. With many consumers all around the world staying home to help curb the spread of the coronavirus, many are clearly turning to Disney+ for home entertainment.
The service's impressive growth captures Walt Disney's rapid progress on its plans to transform into a direct-to-consumer company. Investors unsurprisingly cheered the milestone for Disney+. Shares jumped about 7% in after-hours trading on Wednesday.
Source Fool.com
