Disney Plus Gains More Paid Subscribers Than It Predicated

San Francisco, May 14, 2021: The covid-19 pandemic is really turning out to be a golden opportunity for the digital platforms to grab the attention of entertainment seekers. Amid the OTT giants, Disney's video-on-demand streaming service, Disney Plus, emerged as a winner.

Disney+, which had just 33 million paid subscribers in April 2020, gained more than a whopping 70 million paid subscribers since then. The streaming giant currently has 103.60 million global subscribers, according to the company's Q2 earnings report.



While the current number of Disney Plus' subscribers fell just short of Wall Street's consensus of 110 million subscribers, the company has already achieved surpassed its original target well before in time. When Disney+ first debuted in November 2019, the company set a target of 60 to 90 million subscribers by 2024, a milestone, Disney+ achieved before the end of 2020.

The platform now expects to have 230 to 260 million subscribers worldwide by 2024, which will see Disney+ surpassing Netflix, which currently has 208 million paid subscribers. Disney+ launched at the same time as Apple TV+, but it has grown much more rapidly given the available back catalog of Disney, Marvel, and Star Wars content.

Meanwhile, on the other hand, The Walt Disney Co. delivered mixed results in its earnings. As per the report, the company generated revenue of $15.6 billion and adjusted earnings per share of $0.79. Wall Street consensus had been for $15.93 billion in revenue, and an adjusted EPS of $0.27.

Going forward, Disney has set a target of more than 100 new titles per year across Disney Animation, Disney Live-Action, Marvel, Star Wars, and National Geographic.

Stay tuned...