Astro rises on Disney+ Hotstar deal

Astro rises on Disney+ Hotstar deal
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KUALA LUMPUR (May 4): Astro Malaysia Holdings Bhd rose by as much as 5.88% or six sen this morning after announcing that it will be an exclusive distributor for the Disney+ Hotstar streaming service platform in Malaysia.

The company’s counter on Bursa Malaysia opened 0.98% or a sen higher today at RM1.03, from its previous closing price of RM1.02.

While it dipped to an intra-morning low of RM1.01 apiece at 9.45am, the counter climbed to RM1.08 per share, which is 5.88% or six sen above yesterday’s closing price.

At noon market close, Astro settled at RM1.07 per share, yielding a market capitalisation of RM5.58 billion.

It saw 9.98 million shares traded, which is above its 200-day average trading volume of 3.38 million shares.

Earlier today, Astro announced that its collaboration with The Walt Disney Company, The Disney+ Hotstar streaming platform, will be launched in Malaysia on June 1.

In statements today, the companies said viewers can enjoy content from several providers including Disney, Pixar, Marvel, Star Wars, National Geographic as well as a wide array of general entertainment series and films for young adult audiences, and home-grown and Asian hits through the streaming service.

Consumers can subscribe directly to Disney+ Hotstar for RM54.90 for three months, or through special packages with Astro, for access to an extensive collection of content.

Meanwhile, Astro said the streaming service is working towards making it available via its Ultra and Ulti connected boxes later this year.

Disney+ Hotstar will be available to its Movies Pack customers for an additional RM5 per month, while its non-Movies Pack customers may access the streaming service via other bundles, said Astro. From today onwards, customers can sign up for the Movies Pack bundle that comes with Disney+ Hotstar.

Read also:
Astro and Walt Disney team up to launch Disney+ Hotstar streaming service in Malaysia on June 1

Lam Jian Wyn