- The Walt Disney Co. on Thursday gave the investor community its first look at direct-to-consumer streaming service Disney+, and it seems the Mickey Mouse gloves are coming off in the fight against streaming leader Netflix. The DTC product will go live in the U.S. on Nov. 12 for $6.99 per month, or about half what consumers pay for a standard Netflix streaming package and $2 cheaper than the going rate for Amazon Prime Video.
Walt Disney breaking out to all-time high after unveiling direct-to-consumer (DTC) strategy with Disney+ at Investor Day
Investors cheer direct-to-consumer offering from the dominant leader in high-quality content
- Disney+ Set to Launch in U.S. Market on November 12 at $6.99/month, or $69.99/year
- That undercuts Netflix (NFLX -1%) quite substantially and was below some estimates but in-line with others as the company focuses on sub growth
- Service to Offer New Originals and Unparalleled Library Offerings from Disney, Pixar, Star Wars, Marvel Studios, and National Geographic, as well as "The Simpsons" and 20th Century Fox Titles "The Sound of Music," "The Princess Bride," and "Malcolm in the Middle"
- Sees 60-90 mln Disney+ subs by FY24
- Sees operating losses for Disney+ peaking between FY20-22, profitable by FY24, spending $2b in cash a year on content for the service by FY24.
- Mr. Iger reiterated he will retire when his contract expires at the end of FY21
- Analysts are largely positive on the stock in response this morning.
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