- Shares of Disney spiked as much as 4.4% Wednesday after the company announced its streaming service has more than 10 million sign-ups since launching on Tuesday.
- The media conglomerate said Tuesday that Disney Plus was experiencing technical difficulties due to customer demand exceeding expectations.
- Disney’s stock has risen more than 31% year-to-date as investors were eagerly awaiting the rollout of Disney Plus.
- Watch Disney trade live on Markets Insider.
Disney’s stock price spiked as much as 4.4% Wednesday after the company announced Disney Plus surpassed more than 10 million subscribers just a day after being released.
Here’s a snapshot of Disney’s intraday trading chart to demonstrate the jump:
The announcement comes after the company said it experienced technical difficulties when launching Disney Plus on Tuesday due to stronger-than-expected customer demand.
Investors and analysts have been eagerly awaiting the release of Disney Plus. Some analysts are estimating the service could accumulate as many as 90 million subscribers over the next five years.
Disney Plus is widely seen as an opportunity for Disney to leverage its vast library of content from franchises such as Marvel, Star Wars, and Pixar.
The media conglomerate’s stock performance this year reflects the optimism around the company’s shift toward streaming, as shares have risen more than 31%.