Disney+ surpasses 100 million subscribers

Disney said Tuesday its streaming service Disney+ surpassed 100 million subscribers in just 16 months, a major milestone for the company and the streaming industry.

Why it matters: Disney's streaming success has helped the entertainment giant survive economic headwinds driven by COVID-induced closures of its parks and resorts.

• Its subscriber base is roughly half the size of Netflix's, which launched subscription streaming more than a decade ago.
• Disney's stock reached all-time highs this week after the company said it would open its Disneyland park in California earlier than expected.

The big picture: Streaming — combined with optimism around movie theater and theme parks reopening — breathed new life into Hollywood giants.

• ViacomCBS' stock hit a decade-high Monday following massive ratings for Oprah Winfrey's explosive interview with Prince Harry and Meghan Markle.
• Comcast, home to NBC Universal, is also seeing positive momentum.

Go deeper: Disney+ races to catch Netflix