As stock market trading opened this morning, Disney saw a 2% increase in the overall value of its shares based on the speculation of a prominent market analyst regarding its upcoming premium streaming service Disney+.
In a report to clients, Benjamin Swinburne of the investment bank and financial services firm Morgan Stanley estimated Disney+ would gain 130 million subscribers worldwide by 2024. Based on this prediction, Disney's stock value rose from $135 to $138.51 per share, with Swinburne forecasting that the value could eventually rise as high as $160 per share.
Swinburne cited the coordinated, rapid development of the streaming platform, the increasing number of high profile exclusive programming and a strategic plan to launch the service worldwide through third-party services, such as mobile devices and gaming consoles, as factors for the large subscription base within its first five years of activity.
A third-party study revealed last week that the streaming service is already on track to be a solid success for the multimedia company, with the majority of respondents to the study revealing they were aware of the upcoming streaming service and 22% of those polled already planning to subscribe to the service at launch.
Disney+ is expected to launch in North America on November 12.