Disney's share price skyrockets as investors bet on new streaming service

Walt Disney shares rocketedto an all-time high Friday after the company moved aggressively into the streaming arena.

The Disney Plus video steaming is being released in tandem with a blockbuster lineup of films coming out this year, including Aladdin, Toy Story 4, The Lion King, Frozen 2 and Star Wars: Episode IX.

Shares in The Walt Disney Co. hit $129.85 at the opening bell Friday and closed at $130.06, up nearly 12 per cent.

Disney Plus will roll out in the U.S. on November 12 at a price of $6.99 US per month, well below the $13 monthly fee charged by Netflix, which holds a dominant position in the streaming sector.