It’s not news to say that Disney+ is a huge hit for the Mouse House and the most successful launch of a new streaming service since…Netflix? But when you look at the actual numbers, the rate that Disney’s new platform is growing is unprecedented and shows the power of the world’s largest movie studio.
Speaking to investors during a recent conference call, Disney CEO Bob Chapek updated everyone on the number of paid subscribers to Disney+. Apparently, after only less than a year of availability, Disney+ currently has 60.5 million customers. Though when you compare it to Netflix and its nearly 200 million worldwide subscribers, the number doesn’t seem that impressive, but it’s the rate at which Disney has secured that many paid customers that is astonishing.
When the service was launched and had its first signs of massive interest from the general public, Disney warned investors that the goal was to have between 60 million and 90 million subscribers by 2024. We are barely halfway through 2020 and the studio is already at the low-end of its five-year projection. And with the rate at which the service is growing, it’s not unrealistic to assume that once it opens in more regions around the world by the end of the year, Disney+ could get even closer to that coveted 90 million subscribers mark.
Already, this massive client base is allowing for the Mouse House to flex its streaming muscles. The studio recently debuted highly-anticipated exclusives such as “Hamilton” and “Black is King.” And next month, Disney goes into uncharted territory by allowing subscribers of the streaming service to gain access to “Mulan” for an additional fee.
Clearly, the future of Disney is on streaming, and it’s becoming more and more clear that competitors like Netflix and Amazon will have to start looking over their shoulder at what Mickey and the gang are doing on Disney+ because it won’t be too long before the service catches up.