Walt Disney Co. stock surged Friday after the entertainment company offered more information than expected about its strategy to succeed in the burgeoning streaming video market.
Walt Disney Co. stock surged Friday to a record high after the entertainment company offered more information than expected about its strategy to succeed in the burgeoning streaming video market.
The company expects the service to reach 60 million to 90 million subscribers and become profitable in 2024.The projections came as a pleasant surprise to analysts who have been“We didn't think Disney would give guidance,” Bernstein & Co. analyst Todd Juenger said in a research note. “Boy were we wrong.”
Netflix’s standard pricing plan charges users $13 a month for ad-free access to a wide selection of original shows and films, plus licensed content from other studios. The tech firm has a significant head start in the subscription space, with nearly 150 million subscribers worldwide.
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