Shares of Disney were up more than 6% in premarket trading Wednesday, as investors rallied around the media conglomerate’s fast-growing streaming footprint and aggressive expansion strategy.Disney on Tuesday reported that its direct-to-consumer streaming services collectively surpassed 100 million paid subscribers worldwide.
That includes 60.5 million for Disney Plus through July, nine months after the service first took flight, hitting a target the company had previously forecast reaching by 2024.
The filmed version of “Hamilton” and Beyoncé’s “Black Is King” visual album provided an accelerant for Disney Plus signups last month.Investor enthusiasm also was buoyed on Disney’s plans to release its “Mulan” live-action remake on Sept.
4 on Disney Plus, priced at $29.99 a pop (on top of the $6.99 monthly subscription fee), though CEO Bob Chapek called the release strategy a “one-off.”“Out of both success (Disney Plus) and necessity (Covid-19 disruption), Disney is moving to push its streaming strategy to new levels of investment and growth,
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