Walt Disney shares recorded
their biggest gain in a decade
and reached an all-time high after
the company announced plans to
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aggressively take on rivals
including Netflix with a push into
streaming video.
Disney Plus is being released
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in tandem with a blockbuster
lineup of films coming out this
year, including Toy Story 4,
Frozen 2, Star Wars: Episode IX
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and live-action versions of The
Lion King and Aladdin.
Disney Plus will roll out in the
U.S. on November 12 at a price of
$6.99 per month, well below the
$13 monthly fee charged by
Netflix, which holds a dominant
position in the streaming sector.
Disney’s stock closed up 11.5%
at $130.06 Friday.