Disney has revealed that its relatively new streaming service, Disney+, has managed to surpass 100 million global paid subscribers in just 16 months since its launch in November 2019. The milestone was confirmed this week by Bob Chapek, Chief Executive Officer of The Walt Disney Company, who noted in a press release that the company would be investing even more money into producing high-quality content for the streaming service. Chapek estimates that Disney+ will be getting over a hundred new titles per year, which includes new shows under the popular Marvel and Star Wars banners.
“The enormous success of Disney+ —which has now surpassed 100 million subscribers—has inspired us to be even more ambitious, and to significantly increase our investment in the development of high-quality content,” Mr. Chapek said.
“In fact, we set a target of 100+ new titles per year, and this includes Disney Animation, Disney Live Action, Marvel, Star Wars, and National Geographic. Our direct-to-consumer business is the Company’s top priority, and our robust pipeline of content will continue to fuel its growth.”
Many have pointed out that Disney+’s biggest competitor wasn’t able to reach 100 million subscribers until a decade after its inception in 2007, but to Netflix’s credit, the world hadn’t opened its eyes to the potential of streaming hit movies and TV shows yet. Disney was also able to capitalize on the ramifications of the ongoing coronavirus epidemic, which continues to encourage many to seek entertainment at home.