Disney stock soars after release of streaming service

Disney+ Confirms Vision and Scarlet Witch, What If?, And More Marvel Shows

On Tuesday, the streaming video player discussed its prospects as part of its quarterly earnings report, in which it reported revenue of $4.5 billion, a 22 percent increase from the same quarter a year ago, and added 9.6 million subscribers to hit 148.9 million users worldwide.

In terms of some of the other numbers released today, Netflix reported $4.5 billion in revenue for the quarter, up 22% over the same period in 2018.

Now, it should be noted that while Disney showed plenty of footage to the people in the room at its big Disney+ reveal, most of those trailers weren't streamed to the ordinary folks watching via webcast.

The price of Netflix shares tumbled more than 3 percent on the news.

Shares of the streaming service provider rose as much as 4.5 per cent on Tuesday after Deutsche Bank upgraded the stock to a buy from hold and boosted its price target to US$400.

Netflix touted the popularity of a few original movies and series released in the first quarter, such as the Ben Affleck feature film "Triple Frontier", which was viewed by more than 52 million households in its first four weeks. Disney+ doesn't launch until November 12, so you still have plenty of time to enjoy all these Disney movies on Netflix.

Meanwhile, competitive threats loom.

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Disney announced last week that its ad-free, family-friendly subscription service, which will allow consumers to download its content for unlimited offline viewing, will cost just $6.99 per month and offer access to 100 recent and 400 classic movies from the Disney library, including the titles from the infamous Disney Vault. The move consolidates Disney's control of Hulu and comes as AT&T is planning its own Warner streaming service. Analysts on average were expecting 57 cents per share.

Eric Haggstrom, forecasting analyst at eMarketer, said the revenues generated by the price increases will help Netflix differentiate itself in an increasingly crowded industry.

The company gained critical acclaim when it launched its first self-made TV show, House of Cards, in 2013, and now ploughs billions into making original content.

Anxious you won't have a device that'll support Disney's new streaming service?

"We will be aggressive in our efforts, and we believe we will succeed", McCarthy said. The monthly payment for the basic plan is as low as 6,500 won ($5.70) when consumers limit the use of service to mobile devices.

For years, investors have rewarded Netflix for spending ever-larger sums of money on new shows, confident in the company's assertions that those investments are yielding new customers.

The company projected that it would have from 60 million to 90 million subscribers by that time, with two-thirds of them outside the United States.

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