Disney+ hits 10 million subscribers

Disney announced on Wednesday that its new streaming service, Disney+, has already reached 10 million sign-ups since launching the day before.

The news sent Disney shares soaring to an all time high.

Its solid start - despite a technical glitch on its debut - appears to establish Disney a leading player in the streaming wars that pit the company against Netflix, Amazon Prime Video, HBO and newcomer Apple TV.

But while Disney's day one numbers were more than three-times the size of what analysts were expecting, it wasn't immediately clear how many of those were from free promotions.

Like the offer it made to all new and existing Verizon customers that they were eligible for a free, one year-subscription to Disney+.

The company has told investors it plans to reach 60 to 90 million subscribers globally within 5 years, as it competes for customers in a market dominated by Netflix.

The streaming giant (Netflix) currently has over 60 million subscribers in the United States and 158 million globally.