NEW YORK (AP/Gray News) - The Disney Plus streaming service reached nearly 29 million paid subscribers in less than three months.
That’s an impressive start for what Disney has positioned as its future as more people drop cable subscriptions.
“We had a strong first quarter, highlighted by the launch of Disney+, which has exceeded even our greatest expectations,” Disney CEO Robert Iger said.
But as expected, starting up a new service comes with huge expenses, contributing to a 23% profit decline for the company in the latest quarter.
Disney Plus launched in November to compete with online video services like Netflix.
Original series on Disney Plus include the “Star Wars" series “The Mandalorian." Disney says a second season is coming in October.
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