Disney (NYSE: DIS) stock price marked new all-time high following reports of substantial growth in Disney + subscribers. Research firm Apptopia predicts a new streaming service has been downloaded by 15.5M times in just more than one week after launch.
DIS shares crossed $150 level for the first time in history only due to Disney + performance.
Analysts have also been appreciating DIS management for their marketing skills and product innovation. The investors believe Disney + is likely to create strong competition for Netflix (NASDAQ: NFLX).
Strong Subscriber Growth Could Boost Disney Stock Price to $200 Level
Disney accumulated 10M subscribers on the first day of launch in the U.S. and Canada. The market pundits were expecting it to attain this level by the end of this year.
On the other hand, Hedgeye analyst Andrew Freedman reported that Disney+ has crossed 18M subscribers in just two weeks after the debut. The analyst says investors are underestimating Disney’s streaming service.
Freedman claims that the streaming service is experiencing rapid adoption in the U.S. The analyst predicts DIS shares are still in buying territory as it is set to reach $200.
Moreover, Wedbush’s Dan Ives estimates 1 million subs per day for Disney +. The firm says, “the early numbers suggest Netflix has a “legit competitor,” says Wedbush’s Dan Ives. “The pricing, the content and the bundling was just a pure genius strategy from Iger and Disney.”
New Records From Frozen II Is Adding to Sentiments
Frozen II hauled in $127M in the U.S. and more than $223M globally in just a couple of days. This indicates the best-grossing debut in the history of any animated film all over the world.
Frozen II has also generated the latest opening for Disney’s Animation Studios. The reports are suggesting the film to notch more than $1B at the box office this year. Overall, several factors are paving the path for Disney stock price to reach $200 mark.
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