Disney+ streaming service gets 10 mn subscribers at launch

Walt Disney Co. said Wednesday it signed up 10 million subscribers for Disney+ within a day of launching its new streaming television service. The company said in a statement it has seen "extraordinary consumer demand" and "has already reached a major milestone, achieving a remarkable 10 million sign-ups since launching." The news comes despite a launch marred by glitches which prevented many customers accessing titles from Mickey Mouse cartoons to Star Wars.

Disney+ marks a huge bet by the media-entertainment giant, pitching it into direct conflict with on-demand services such as Netflix and Amazon Prime which have disrupted the Hollywood media landscape. It went live Tuesday across the US and Canada, featuring thousands of movies and TV episodes from Disney, Pixar, Marvel, Lucasfilm and National Geographic.

Disney chief Bob Iger called the launch "a historic moment for our company that marks a new era of innovation and creativity." Richard Windsor, analyst at Radio Free Mobile, said the technical problems were "a good sign because it implies that the demand for the unique catalogue that it has to offer is stronger than expected, putting it in a very strong position long-term." Windsor said the market is fluid now with the entry of new players but that deep-pocketed players such as Disney, Apple and Amazon "will end up acquiring many of the weaker players" and cut into Netflix's large user base. 

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