Disney Plus Rockets to 86.8 Million Subscribers

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Disney Plus Rockets to 86.8 Million Subscribers

Variety2020-12-11

Disney Plus has reached a new milestone, just over a year after its debut, hitting 86.8 million paid subscribers worldwide as of Dec. 2. That’s up more than 13 million from the last reported number of...

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Teck
·2020-12-11
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The streaming service, which has blown past Disney’s original growth forecasts, has become an even more critical pillar for Disney, especially during the COVID crisis that has depressed box office and theme park revenue.\nDisney CEO Bob Chapek made the announcement at its 2020 investor day event Thursday, saying the explosion of Disney Plus has exceeded the company’s “wildest expectations.”\nAt its investor day in April 2019, Disney projected 60 million-90 million subscribers for Disney Plus by the end of its fiscal year 2024 (which ends around Sept. 30).\nThe media conglomerate first launched Disney Plus in November 2019. The service quickly gained traction, signing up 10 million by the day after launch and zooming to 50 million subs in its first five months. The service offers a rich library of Disney, Pixar, Marvel and Star Wars movies as well as breakout original series “The Mandalorian” and other exclusive TV shows and movies including “Hamilton” and the live-action “Mulan” (which it sold in a 90-day early-access window for $30 a pop).\nBesides coming to market with one of the world’s most powerful entertainment brands, a key part of Disney Plus’ appeal is its relatively low price point of $6.99/month (or $69.99/year), which is less than competing services like Netflix or HBO Max. That’s led analysts to speculate that the company will eventually seek to hike the price of the SVOD package.\nPrior to Disney’s investor day, some Wall Street analysts had upped their forecasts for Disney Plus. 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