Walt Disney's Streaming Business Is Already Massive
Walt Disney (NYSE: DIS) posted a surprise quarterly profit on an adjusted basis on Tuesday. But this upside on the company's bottom line took a backseat to the biggest news from the quarter. The media giant's streaming business has now racked up more than 100 million subscribers, the company announced. Disney+, in particular, stole the show, with subscribers soaring 72% year over year sequentially.
Crossing 100 million subscribers in its streaming business marked "a significant milestone and a reaffirmation of our [direct-to-consumer] strategy, which we view as key to the future growth of our company," said Disney CEO Bob Chapek in the company's fiscal third-quarter earnings release.
Image source: Walt Disney.
Source Fool.com
