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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