'High School Musical 2' Sets TV Record

An estimated 17.2 million viewers tuned into "High School Musical 2" Friday night, making the Disney Channel original the most watched basic cable program in history. Backed by an 18-month promotional blitz, the sequel nearly doubled the debut audience of last year's "High School Musical" and is expected to generate $650 million from spinoff products by the end of 2008.

The franchise's breakout success has relaunched Disney's appeal in the 9-14 age group, reports the New York Times, and executives are realizing the massive potential of the original movie business. A third "High School Musical" is already underway and will open in theaters in late 2008. (More Disney Channel stories.)