Disney shares jumped on Friday after the company announced its Disney+ video streaming service would be $6.99 a month, two dollars a month cheaper than Netflix’s basic subscription.
“I’m pretty optimistic about the ability for this thing to work. Particularly when you make it accessible because of the content we’re putting on, because of the user interface and because of the price,” CEO Bob Iger told CNBC’s David Faber in an interview Thursday.
Shares of Disney surged 9% in morning trading on Friday, on pace for its best day since May 2009. Netflix shares traded lower by more than 3% on Friday.
Back in 1994 Disney had a dilemma.. those days are over now..
The mouse ears have perked up again.