Disney+ has hit 60.5 million paid subscribers less than a year after its launch in November. The streaming service is one of many in a market that's become saturated in the last few years. Netflix, Hulu, Amazon Prime Video, and others are well-established at this point. However, the last year alone has seen Disney+, HBO Max, Apple TV+, and NBCUniversal's Peacock join the fray. Each platform has faced its own set of challenges, especially with producing quality original content. This includes Disney+, which had a giant hit with the first live-action Star Wars series The Mandalorian. However, other buzzy offerings, such as the streamer's upcoming Marvel TV shows, have yet to premiere.
In the meantime, Disney+ has done what it can to satisfy viewers with existing content. This has been especially important during the coronavirus pandemic, which has left many at home looking for something to watch. In March, Disney surprised fans with the announcement Frozen 2 was arriving on the streaming service ahead of schedule. The company also made the shocking decision to drop the film version of Hamilton over Fourth of July weekend instead of in theaters next year, as originally planned. Perhaps most notably of all, Disney announced earlier today it will release the live-action Mulan movie on the streaming service in September. However, in that case, the film will cost an extra $30. It will also release in open theaters on the same day.
Though some of these decisions have been risky, it seems they've paid off for Disney+. During the company's earnings call Tuesday, Disney revealed its streaming service has hit 60.5 million paid subscribers, surpassing even the company's own estimates ahead of its launch. Its biggest competitor, Netflix, has close to 193 million subscribers but has been in the streaming game almost a decade longer. This comparison makes the new Disney+ numbers even more impressive.
The subscriber numbers also show Disney+ continues to grow, even without new Star Wars or Marvel content. The service got a boost from the release of Hamilton, as well as the ongoing pandemic. However, the increase in subscribers also shows the impact of Disney's vast catalog, much of which had never been available in one place before. When Disney+ launched, it was seen as another exciting facet of a company already dominating the film and theme park industries. However, due to the coronavirus, Disney has had to rely on it far more than initially expected. Luckily for the company, Disney+ has been a success.
It seems likely the streamer's subscriber numbers will only increase as the year goes on. The Mandalorian season 2 premieres in October, which will draw back Star Wars viewers who may have cancelled their subscriptions after season 1. Disney+'s first Marvel Cinematic Universe shows, The Falcon and the Winter Soldier and WandaVision, will hopefully still be able to release this year as planned, which will boost subscriber numbers even more. All told, Disney+'s growth is a good sign for the company, especially in the midst of a difficult financial period.
Source: Disney
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August 05, 2020 at 05:25AM
