Disney+ first launched in November 2019 and has proven to be a success so far. By the end of 2020, the service had reached nearly 95 million subscribers. Now that the company’s first quarter earnings are out, how has the streaming service performed so far in 2021?
In the company’s Q1 earnings report, they announced that they had 103.6 million subscribers. The company added a total of 8.7 million subscribers in the first three months of 2021.
At launch, Disney+ set out to gain 90 million subscribers in four years. The company has already smashed through its initial goal and created a new goal of reaching 230 to 260 million subscribers by 2024.
The popularity of “WandaVision,” “Raya and the Last Dragon,” and “The Falcon and the Winter Soldier” contributed to the streaming service’s success. It looks like the service plans on continuing expanding their library of high-quality content. Previously, CEO Bob Chapek said, “We set a target of [more than] 100 new titles per year, and this includes Disney Animation, Disney Live Action, Marvel, Star Wars, and National Geographic.”
Disney+ racked up an impressive 100 million global subscribers after just 16 months. It looks like many of the company's subscribers are here to stay, too. Per a study from Hub Entertainment Research, 77% of Disney+ subscribers plan to continue to pay for the service.
The Q1 numbers from competing streaming services are rolling in. Netflix underperformed with adding just 4 million subscribers to reach, 207.6 million. HBO Max saw a major boost, thanks to its deal to allow users to stream new movies the same day they hit theaters.