Thursday’s Headlines: Disney+ Hits 10 Million Subscribers
1. Less than 2 days after its long-awaited launch, Disney has announced that its original streaming service has already gained over 10 million subscribers, causing shares to jump 7%. Disney is offering a seven-day free trial, so likely not all of the sign-ups represent customers who will continue to pay for the service, but it is still an impressive figure nonetheless. This number compares to Netflix’s 158 million subscribers. Disney forecasts Disney+ will have between 60 million and 90 million subscribers by 2024. For the full story, read here.
2. Alphabet stock price remained steady last night following confirmation yesterday that the Google parent company will begin offering checking accounts next year. According to a source close to the matter, the accounts for the project will be run by Citigroup and the Stanford Federal Credit Union, confirming a report in The Wall Street Journal. As part of a project code-named Cache, the company will become the latest Silicon Valley leader to try its hand at the banking space, following previous attempts by the likes of Apple and Facebook. Read the complete report here.
3. Nike shares rose 1% following an announcement that it will stop selling merchandise directly to Amazon as part of its push to sell more directly to consumers, the company confirmed on Wednesday. The abrupt halt will end a pilot test that Nike and Amazon launched together in 2017, with the sportswear giant agreeing to sell limited stock on the e-commerce site in exchange for a clampdown on counterfeit Nike sales. The spokeswoman added Nike will continue to use Amazon Web Services to run its website and a handful of mobile apps. Get the full article here.