December 11, 2020
The morning after Walt Disney Co.’s epic Investor Day event, which saw every entertainment component of the media giant throw its support behind streaming video, i.e. Disney+, Hulu, ESPN+ and Star, Wall Street responded, sending shares to a record high.
Disney’s stock was up about 14% in Dec. 11 midmorning trading at $176 per share as of 9 a.m. PST. The company now has a market cap of almost $314 billion.
Amid the avalanche of content news on the Dec. 10 event, Disney said it would raise Disney+ subscription pricing by $1 next March, in addition to increasing European pricing by €2 to €8. The company touted more than 137 million paid subscribers through Dec. 2 via Disney+, Hulu and ESPN+.
Notably, of the 86.8 million Disney+ subscribers, 30% (26.8 million) originate in India, where Disney owns and operates Disney Hotstar and pending Star and Star+ general entertainment streaming services. Disney+ Hotstar launched April 3 in India featuring live cricket matches — a national sport — in addition to more than 17,000 hours of content in seven languages.
“We are uniquely positioned for India because of the rapidly growing middle class and their purchasing power,” Rebecca Campbell, chairman of international operations and direct-to-consumer, said on the Investor Day webcast.