The stock price of Walt Disney Company (NYSE: DIS) climbed more than 11 percent to $130.06 per share, reaching a record-high on Friday.
The momentum was driven by the entertainment giant’s unveiling of its much-anticipated streaming service called Disney+ on Thursday.
Disney+ will be available in the United States on November 12 for $6.99 a month, lower than the $8.99 basic monthly subscription price of Netflix (NASDAQ: NFLX).
Disney+ offers significant value to consumers and shareholders
On Thursday, Disney Chairman and CEO Bob Iger said, “We are confident that the combination of our unrivaled storytelling, beloved brands, iconic franchises, and cutting-edge technology will make Disney+ a standout in the marketplace, and deliver significant value for consumers and shareholders alike. ”
Disney+ will offer consumers a great library of content from the company’s iconic brands including Disney, Pixar, Marvel, Star Wars, and National Geographic. The streaming service will be available on mobile devices and connected TV.