Disney+ Subscribers Cross 80 Million Mark
Netflix may have finally found a worthy adversary as the streaming service Disney+ has announced that they have breached the 80 million paid subscribers mark, just a little over a year since it was launched.
The Hollywood Reporter says that the subscriber announcement was made during the recent investor day held by Disney. According to Bob Chapek, the current Disney CEO, there are now 86.8 million Disney+ subscribers as of Dec. 2.
The numbers are at the higher end of the company's target when the streaming service first launched. Before the launch of Disney+, the company had initially targeted getting up to a high of 90 million subscribers in five years. They are now close to reaching that target in just the space of a year.
It is also a huge jump from where it was back in April when its number of paid subscribers was at 50 million. Back then, the service was only five months old but had already gathered many subscribers from the United Kingdom, Germany, Spain, and other European countries.
Back then, those numbers catapulted it past Hulu, which had 30 million subscribers. It also put Disney+ closer to the top streaming service Netflix, which had 167 million subscribers at the time.
Variety breaks down where the subscribers come from, noting that 30 percent of it came from India, where the streaming service launched just last April. The 86.8 million subscribers are also a jump of 13.1 million from the October count of 73.7 million.
Combined with the number of subscribers for Disney’s other direct-to-consumer services like Hulu and ESPN Plus, the future of streaming within Disney is looking good. Subscribers to Hulu are now at 38.8 million, while there are now 11.5 million subscribers to ESPN Plus. Overall, subscribers to Disney are now at 137.1 million.
Increasing those subscribers have become important to Disney as the global coronavirus pandemic has severely impacted their revenue, with theaters closed and theme parks not reopening.
With the news of increased subscribers, analysts at Morgan Stanley have revised their Disney+ streaming service forecasts. According to the institution, the service will likely have 145 million subscribers by 2025 and earn Disney $11 billion by the end of that financial year.
Those numbers will be even more likely if no improvement happens with regards to the global coronavirus pandemic. According to the latest figures from the COVID-19 dashboard of the World Health Organization, there are currently 67,210,778 confirmed coronavirus cases worldwide. The number of fatalities around the world is at 1,540,777 people.