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.