Disney+ Sees Record Downloads As Wall Street Analysts Downgrade Netflix

Disney+ Sees Record Downloads As Wall Street Analysts Downgrade Netflix

New data shows Disney+ gaining subscribers and market share in the intensifying streaming wars—and that looks increasingly grim for Netflix, top Wall Street analysts say.

Disney+ is steadily gaining ground, offering its service for cheaper and featuring content like Star Wars’ “The Mandalorian,” which, thanks to pop culture phenomenon Baby Yoda, has quickly become the most in-demand TV show in both the U.S. and the world.

The company reported 10 million sign-ups after its first day, and Google’s recently released annual search trends report shows that Disney+ was the highest trending search in the U.S. for 2019.

With Disney+ reaching the top spot in both Apple and Google’s app stores, app-tracking company Apptopia found that the service has been downloaded 22 million times on mobile devices since it launched four weeks ago, averaging almost 10 million daily active users, CNBC reported.

It is predicted that if Netflix keeps monthly prices in the $9 to $16 range, the company could lose as many as 4 million U.S. subscribers next year.

Disney stock is up over 6% since it launched the streaming service, while Netflix shares have only gained less than 2% during that same period in comparison.

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