Disney+ Reaches 73.7 Million Subscribers in Record-Breaking First Year
Disney+ surpasses 73.7 million subscribers in its first year, easily smashing its original four-year goal. The rapid growth positions the streaming service as a formidable competitor to Netflix.
Disney+ surpasses 73.7 million subscribers in its first year, easily smashing its original goal of reaching 60 million to 90 million subscribers by 2024. This incredible milestone positions the streaming service as a major competitor to Netflix, which currently boasts over 195 million subscribers. The platform also easily outpaces newer rivals like Apple TV+ and NBCUniversal's Peacock.
The Covid-19 pandemic plays a significant role in this explosive growth by keeping viewers at home and hungry for entertainment. Subscribers flock to the platform immediately, with 10 million people signing up on the very first day. The user base continues to climb rapidly throughout the year, jumping from 33.5 million in the second quarter to 57.5 million in the third quarter.
Analysts quickly abandon their early doubts and raise their long-term forecasts for the platform. Morgan Stanley now estimates that Disney+ reaches 230 million subscribers by the end of 2025. To support this massive audience, Disney restructures its media divisions to focus heavily on streaming, promising higher spending and faster production of original content for its direct-to-consumer platforms.