Disney+ posts 26.5 mln paid subscribers, beats estimates

Walt Disney Co on Tuesday reported bigger-than-expected paid subscribers for its newly launched streaming service, Disney+, in a warning shot to entrenched and new players. Disney+ hit 26.5 million subscribers at the end of Dec. 28, while analysts at three brokerages had expected the company to report 20 million subscribers.

The service, which includes films from the Pixar, Marvel and Star Wars universe, launched on Nov. 12 and is currently available in the United States, Canada, Australia and New Zealand. Shares of the company rose nearly 3% to $148.86 in trading after the bell.