Netflix Shares Drop After Verizon and Disney+ Announcement. Yesterday, October 22, 2019, Verizon and Disney+ shared the news that Verizon Wireless Unlimited Customers and new Fios Home Internet and 5G Home Internet users will get a free 1-year Disney+ subscription “on us.”
“Giving Verizon customers an unprecedented offer and access to Disney+ on the platform of their choice is yet another example of our commitment to provide the best premium content available through key partnerships on behalf of our customers,” Verizon CEO Hans Vestberg said. “Our work with Disney extends beyond Disney+ as we bring the power of 5G Ultra Wideband technology to the entertainment industry through exciting initiatives with Disney Innovation Studios and in the parks.”
According to Deadline, Netflix shares dropped nearly 3%, down to nearly $270/share, while Disney shares rose almost 2$ to $132.50/share, after the news was shared that Verizon and Disney+ had partnered to bring free subscriptions to Verizon Wireless Unlimited and New Fios customers.
“The launch of Disney+ kicks off a new era of streaming for The Walt Disney Company, bringing nearly a century’s worth of content from our iconic studios to consumers directly,” said Kevin Mayer, chairman of Disney’s Direct-to-Consumer & International unit. “We’re excited to share this moment with Verizon and bring Disney+ to the millions of customers across its award-winning wireless network.”
Are you excited for Disney+ to launch in a few weeks? Will you be getting a Disney+ subscription for free? Are you dropping Netflix for Disney+, or subscribing to both? We would love to hear your thoughts in the comments.
Be sure to check back here at Chip and Company for all things Disney+!
Photo Credit: Disney+/Disney/Netflix
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