Streaming service Disney+ has reached its four-year target of 94.9 million subscribers in just 14 months, the company revealed in its Q1 2021 earnings call.
The platform gained a staggering 8.9 million users in a little over two months after Disney announced it had reached 86 million subscribers during its Investor Day in December last year.
Disney’s surge in paying subscribers can be attributed to big-name streaming releases during the holiday period, including Pixar’s Soul and The Mandalorian.
The streaming provider had set a goal of reaching 90 million subscribers four years after its launch. It took just 14 months to reach this number.
Disney has since revised its plan with a new goal of between 230-260 million subscribers by 2024.
The 94.9 million milestone was reached on January 2nd, 2021. Following a number of high-profile releases since this date, including Marvel’s WandaVision, it is likely Disney+ may have already surpassed the 100 million mark.
During its earnings call, Disney announced its direct-to-consumer streaming business was up 73 per cent year-on-year, with revenue at $3.5 billion.
The successful streaming platform was a bright spot for Disney during its financial posting.
Overall revenue was down more than 20 per cent at $16.5 billion, largely in part to COVID-19 forcing Disney to shutter its cruise ship business and close theme parks for various periods.
Movie theatre closures have also impacted Disney’s earning potential, with the company delaying major blockbuster releases or sacrificing box office sales by releasing content online first.
