Disney shares jumped more than 10 percent in Friday's trading, hitting a new historic high of $ 130.90 after the company revealed details of its new streaming service, Disney Plus.
The new service is a direct competitor of Netflix, which today dominates this segment of the market. Disney plans to release the streaming in November at an initial price of $ 6.99 per month, remarkably cheaper than the Netflix price, ranging from $ 8.99 to $ 12.99. The company commented that it would include a lot of content from Marvel, Pixar and National Geographic.
Disney expects the service to include 25 original series (their product) as well as 10 movies and special shows in the first year in addition to 400 titles from their library. The entire series of "Star Wars" and the first 30 seasons of "The Simpsons" will be available from the start of the service. The giant expects about 90 million households to sign up for Disney Plus, and is expected to make a profit in 2024.
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