Disney: unveils new streaming service - shares jump 10%

(CercleFinance.com) - Disney last night gave a preview of its first streaming service, and the ambitious targets the media giant has set for the new product sent its shares jumping over 10% today.


At its investor day in Burbank on Thursday, the Californian company unveiled Disney+, its first new streaming service, which will launch in November 2019.

In a note sent to clients today, analysts at Credit Suisse said the user interface, content quality, brands and upcoming marketing efforts are all "impressive."

"But what captured the most attention was a Disney+ global subscriber target of 60 million-90 million in fiscal year 2024," the broker said.

Credit Suisse points out that the Street expected around 50 million subscribers.

"Further, management targeting Disney+ profitability in fiscal year 2024 was ahead of most expectations," it added.

These features helped send the shares up 10% at 128.4 dollars in early-morning trading on Friday.

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