Disney Plus Forecast to Hit 226 Million Global Subscribers by the End of Fiscal Year 2024
Disney+ is on a serious subscriber roll.
A new report from Guggenheim Securities says Disney+ will earn 226 million worldwide subscribers by the end of fiscal year 2024, notes The Hollywood Reporter.
On April 13, analyst Michael Morris raised his subscriber forecast for the streamer, given the subscription hikes announced last week.
His prediction came on the heels of key April 8 news: Disney+ rocketed to 50 million subscribers worldwide since its U.S. launch in November 2019. The streamer was aided by the debut of the much-touted “The Mandalorian,” as well as a Verizon promotion, which analysts believe will add 10 million subscribers by year’s-end.
Guggenheim Securities original subscriber estimate was 135 million versus the current 226 million. The company also upped its domestic forecast from 59 million to 74 million subs.
In addition, Disney’s stock price target was raised 8 percent to $108.
Disney+’s biggest rival, Netflix, is also expected to add viewers. The Netflix forecast is a jump to 292 million global subscribers by the end of 2024, per Morris. At the end of 2019, Netflix had 167 million.
Given the pandemic, at-home viewing stats have skyrocketed — and streamers are offering numerous free trials to attract viewers.
In other Disney+ news, the company announced it would produce a live-action rendition of “Robin Hood” exclusively for the streamer. Directed by Carlos López Estrada (“Blindspotting”), the movie will be written by Kari Granlund, who wrote the “Lady and the Tramp” remake.