A milestone of 100 million subscribers has been reached by The Walt Disney Company’s (DIS) video streaming service Disney +, which launched 16 months ago in November 2019.
By the end of the first quarter, Disney + reached 26.5 million subscribers; more than 10 million subscribers had signed up on its launch day. After five months of operation, the service reached over 50 million subscribers in April last year, and by November, it had grown to 73 million. As of December 2, this number was also 9% more than 86.8 million.
At the end of the first quarter, The Walt Disney Company (DIS) representative announced that Disney + had reached almost 95 million paid subscribers, and the total paid subscriptions for all their streaming platforms (Disney +, Hulu, and ESPN +) had exceeded 146 million.
CEO Bob Chapek said Tuesday that Disney had undertaken ambitious new plans for itself. At the same time, Disney expected that by November 2024, it would have 60 million to 90 million Disney + subscribers while before the pandemic. The company plans to reach 230 million to 260 million subscribers by 2024, up from the original target of 200 million.
As a consequence of the service’s success, The Walt Disney Company (DIS) will funnel its content-producing studios, such as Disney Animation, Marvel, Star Wars, and National Geographic, to the service. In total, Disney will release 100 films and television shows, approximately 80% of which will be seen on Disney +, including 12 Marvel films and a Star Wars saga of more than a decade. Based on Nielsen’s research, the release of the new Marvel series, WandaVision, and The Mandalorian’s popularity would be enough to convince people to subscribe for a Disney + subscription.
With rapid expansion into international markets, Disney + quickly followed its biggest competitor, Netflix (NFLX). It was recently launched in Singapore.
More than 40% of Disney+ subscribers are believed to be located in the United States. However, Disney management believes that 66% of subscribers, in the long run, will be located outside the United States.
Health officials allowed Disney theme parks in California to reopen earlier Monday, which boosted its stock sharply earlier Monday.
Despite its small attendance, Disney’s California parks will still help re-establish some of the studio’s largest segments. Since March of last year, Disneyland and Disney California Adventure have been closed. With the Marvel Black Widow movie slated for May 7, The Walt Disney Company (DIS) hopes to reopen cinemas and make its first dollar with the new film this year.