The streaming wars heat up with Disney+
Disney CEO Bob Iger has had a dominating 2019. Take it from my CNN Business colleague Frank Pallotta:
“This year alone, Disney’s film studio boasted the highest-grossing year in box office history, with months to spare. His parks and resorts opened the largest expansion ever with the innovative Star Wars: Galaxy’s Edge. Oh, and on top of all of that, he closed the company’s $71 billion acquisition for most of 21st Century Fox.”
But that won’t mean much if Disney+, the company’s upcoming streaming service, isn’t a hit. The media industry is rapidly evolving, and Disney, one of the biggest media companies on the planet, needs to stay ahead of the curve and the competition — which now includes Netflix, Apple, Amazon, CNN parent AT&T and Comcast.
Disney+ launches in the United States, Canada and the Netherlands on Tuesday. Patrice Cucinello at Fitch Ratings sees the strategy as a clear play to scale up fast, pointing to the $6.99 per month price tag and vast trove of content that will be available.
In a research note Friday, Cucinello predicted strong early subscriber growth, in part because Disney can afford to offer discounts and cheap bundles. Let the streaming wars begin.