abc-ipad-app Disney’s ABC television network was the first in the industry to market on the iPad with their impressive app. Downloaders can stream TV episodes free of charge and early data is showing that they’re doing so in droves.

According to data shared with the Wall Street Journal, the ABC iPad app has been downloaded 205,000 times and users have already streamed 650,000 television episodes. Those streams have translated into several million ad impressions for the network’s iPad advertisers, including AT&T, Sears and Target.

Given that as of last week more than 450,000 iPads have been sold, it appears as if nearly one in every two iPad owners has downloaded the app and is actively using it. Disney also reports — unsurprisingly — that the episode most in demand is the Modern Family episode pertaining to iPad launch day.

Disney hopes to uncover an additional revenue stream with the ABC iPad app and is attempting to do so with 30-second ads and in-video links to buy episodes in iTunes. Figures suggest that the ABC app is a huge hit for viewers and the company alike.

The report also indicates that ABC was not gifted with any special favors during the app creation process. The app was built by “twelve in-house ABC software engineers” in five weeks, and despite the Disney-Jobs relationship, “the network didn’t receive a prototype to work with in designing the app.”

We can only hope that ABC’s success will encourage more networks to bring their content to the iPad as well.