Disney Hits The Streaming Jackpot
When Disney Plus launched in late 2019, executives at the House of Mouse estimated they would amass between 60 and 90 million subscribers by 2024.
Little did they realize how important movies like Finding Nemo would become for kids (and their parents) to get through 2020.
Yesterday — just a year and a half after launch — Disney announced it has surpassed 100 million subscribers for its Disney+ streaming service
Super Hero Streamer
Executives announced the milestone at Disney’s annual shareholder’s meeting, which will be the last for Executive Chairman Bob Iger.
After blowing past the hundy mark, Disney said it is now targeting between 300 and 350 million subscribers across all of its streaming platforms (Disney Plus, Hulu, ESPN Plus, Star Plus, HotStar) by 2024:
- CEO Bob Chapek said, “The enormous success of Disney Plus … has inspired us to be even more ambitious, and to significantly increase our investment in the development of high-quality content.”
- Disney is now targeting more than 100 new titles per year across Disney Animation, Disney Live Action, Marvel, Star Wars, and National Geographic.
The Flip Side: While 100 million subscribers is no small feat, some analysts question the economic value of certain cohorts. Last year Disney’s CFO disclosed that 30% of Disney Plus’ subscriber base comes from Disney Plus HotStar, the Indian subsidiary, where the average revenue per customer is lower.