Amidst an uncertain financial situation, Disney released information about a milestone number of Disney+ subscriptions yesterday.
Disney announced that there are now over 50 million paid subscribers to Disney+ only five months since launching. In response, shares of the company surged with a major boost.
According to MarketWatch, shares of Walt Disney Company surged 5.4%, adding about 40 points to the Dow’s price. This boost has brought a little bit of optimism into a bleak financial environment for Disney across most sectors of the business.
An analyst from J.P. Morgan, Alexia Quadrani, stated, “We view Disney+ as a core driver to the company’s extensive ecosystem of consumer touchpoints, which we believe will benefit the Parks and Studio once normal operations resume.”
With such a volatile stock market, we’ll be sure to keep an eye on any changes as they pertain to Disney.
What do you think of the surge of Disney’s stocks? Share your thoughts in the comments.
Want to learn more about the Disney Parks closures?
- The Disney Parks Closures: Here's Everything We Know
- Here's Everything That Disney World is Refunding Due to the Temporary Closure
- Here's Everything That Disneyland is Refunding Due to the Temporary Closures
- Here's Everything That the Disney Cruise Line is Refunding Due to Suspended Itineraries
- Should I Cancel My Disney Trip? Taking a Closer Look at Our Most FAQ
- Flattening the Curve: Why Disney is Closing Everything
- All the Times That Disney World and Disneyland Have Closed Throughout History
I’m proud for Disney+’s achievement, but to be honest, even though it has only been 5 mos since launching, it has been heavily marketed with deeply discounted pre-launch pricing for at least a year. The news release implies all the sales happened since the launch. I’d bet 75% of the subscriptions were sold prior to launch.
I’m not saying Disney+ is not a good product, I just don’t like to see numbers spun to make something look better than it actually is.