Nov 13, 2019

More than 10 million sign up for Disney+ in first day

Photo: Disney

The Walt Disney Company said Wednesday that its new streaming service Disney+ had 10 million sign-ups since it launched Tuesday at midnight.

Why it matters: Disney wouldn't release the number if the company didn't think it represented a major milestone. Disney told investors in the spring that it hopes to reach 60 million to 90 million subscribers by 2024.

Yes, but: The number is also notable, considering the service launched with a few hiccups. Early reports on Tuesday suggested the technology for Disney+ began crashing on launch day.

The big picture: Analysts anticipated strong consumer interest prior to the launch of the new service.

  • Polling suggests that consumers were interested in the service at launch because of the access to Disney's movie catalog, as well as its new show, "The Mandalorian."

Our thought bubble: Disney threw a ton of marketing dollars behind its launch. What will be telling is if it can continue to grow sign-ups over time as other rival streaming services launch with new programming.

What's next: Moving forward, Disney says it doesn't plan to release Disney+ subscriber data outside of the company's quarterly earnings calls.

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RNC expands convention search across the Sun Belt

Donald Trump, Mike Pence and their families on the last night of the Republican National Convention in Ohio in 2016. Photo: David Hume Kennerly/Getty Images.

The Republican National Committee is planning site visits over the next 10 days to more than a half-dozen cities — across the South and into Texas and Arizona — as it scrambles for a new convention host, people familiar with the internal discussions tell Axios.

Driving the news: The RNC's executive committee voted Wednesday night to allow most of the convention to move — with only a smaller, official portion remaining in Charlotte — after North Carolina's governor said the coronavirus pandemic would mean a scaled-back event with social distancing and face coverings.

Oil faces tough road back from coronavirus

Illustration: Aïda Amer/Axios

Oil companies in the battered shale patch are starting to bring back some production as prices climb, but a new report underscores how the pandemic is taking a heavy financial toll despite signs of revival.

Driving the news: Fourteen North American producers have filed for bankruptcy thus far during the second quarter, per a tally from the law firm Haynes and Boone, which closely tracks the sector's finances.

2 hours ago - World

Hong Kong legislature bans insults to Chinese national anthem

Activists holding a candlelit remembrance outside Victoria Park in Hong Kong on June 4, 2020, to mark the 1989 Tiananmen Square crackdown. Photo: Anthony Wallace/AFP via Getty Images

Hong Kong’s legislature approved a bill Thursday that makes insulting the "March of the Volunteers," the Chinese national anthem, illegal, AP reports.

Why it matters: It did so on the 31st anniversary of the Tiananmen Square protests, when Chinese troops opened fire on pro-democracy activists in 1989. The death toll has never been released, but estimates vary between hundreds and thousands.