( Reuters) – Walt Disney Co’s new streaming service Disney reached 28.6 million paying customers today, the company said on Tuesday as it reported quarterly revenues that beat Wall Street projections.
SUBMIT IMAGE: A guy takes a look at his phone as he passes by a screen marketing Walt Disney’s streaming service Disney in New York City, U.S., November 12,2019 REUTERS/Brendan McDermid/File Photo
Shares of Disney were flat following the outcomes after bouncing between positive and negative territory.
The results showed Disney made a strong entryway into the streaming video wars dominated by Netflix Inc. The owner of sports powerhouse ESPN is attempting to transform its company to capture audiences that are moving online.
Analysts at three brokerages had actually expected more than 20 million customers to Disney , which is offered in five countries including the United States. Disney will be readily available in India on March 29 through streaming service Hotstar.
Netflix, which started providing online video 13 years earlier, boasts 67.7 million paid subscribers in the United States and Canada.
Customers at Hulu, a