Walt Disney Co. released information about their new video streaming service and the market reached a record high for the entertainment giant.
Per Markets Business Insider, Disney’s shares jumped over 10% this morning, 130.90 per share, after they announced their stream service will start in November of this year. They also dropped the monthly price which puts Netflix in a predicament as they’ve increased their prices. Disney will oly charge $6.99 a month for their content which includes “Marvel”, “Star Wars”, “Pixar” and “National Geographic” and over 400 titles from their library.
” We’re extremely excited about our growing portfolio of direct-to-consumer offerings. As we demonstrated today, with Disney+ we will deliver extraordinary entertainment in innovative ways to audiences around the world,” said Kevin Mayer, chairman of Disney’s management team.
They will also include in it’s first year 25 original series, 10 movies and specials. After their debut in the U.s., they will have the streaming services worldwide.