Feb 4, 2020 - Economy & Business

Disney says Disney+ has 26.5 million subscribers

Photo: Chesnot/Getty Images

Disney's stock rose Tuesday after revealing that its new streaming service, Disney+, now has 26.5 million paid subscribers. It also said that ESPN+, its sports streaming service, now has 6.6 million subscribers, up from 3.5 million in November.

Why it matters: Disney's strong showing shortly after it debuted its streaming service last November shows that it will be a formidable competitor to Netflix in the streaming wars.

Be smart: The fact that ESPN+ subscriber numbers increased so much shows that consumers are liking Disney's cheap bundled subscription package that includes Disney+, ESPN+ and Hulu Live for $12.99 monthly.

Go deeper: Disney breaks $10 billion box office record

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Bob Iger to step down as CEO of Disney

Photo: Jeff Kravitz/FilmMagic

The Walt Disney Company said Tuesday that it had named longtime Disney executive Bob Chapek as CEO Bob Iger's successor, effectively immediately. Iger will remain executive chairman of the company through 2021.

Why it matters: Iger is credited with having successfully turned around Disney’s animation and studio businesses and with the strategic acquisition of Marvel, Pixar, Lucasfilm and 21st Century Fox. Most recently, he was the person behind Disney's successful launch of its Netflix rival Disney+.

Go deeperArrowUpdated Feb 25, 2020 - Economy & Business

Bob Iger stuns media world with sudden departure as Disney CEO

Photo: Jeff Kravitz/FilmMagic

In a move that shocked the media industry, Bob Iger said Tuesday he would step down from his role as CEO of the Walt Disney Company after leading the entertainment giant to unprecedented success during his 15-year run in the job.

Why it matters: Iger is credited with having successfully led Disney through a series of risky but highly successful acquisitions that not only solidified the company's entertainment dominance, but also ultimately reshaped the entire media landscape.

Free, ad-supported streaming on the rise as major media companies buy up platforms

Data: PwC and Digital TV Research; Chart: Axios VisualsA few of the last remaining major ad-supported streaming platforms are reportedly nearing sales to major media companies.

A few of the last remaining major ad-supported streaming platforms are reportedly nearing sales to major media companies.

Why it matters: The acquisitions show how valuable big media companies think ad-supported streaming services could be to their overall streaming strategies, as they continue to also invest in subscription streaming offerings.