Despite posting a $4.7bn loss on the stock market, Disney has some big news to celebrate today.
In a quarterly earnings call with investors company Chief Bob Chapek confirmed that Disney+ has reached a huge milestone. The new streaming service, still within its first year in operation, has reached over 100 million paid subscriptions.
By comparison, early figures released by company projected a total of between 60 million and 90 million subscribers to be reached by the year 2024. Reaching that goal in its first eight months is a massive achievement for the company.
“Despite the ongoing challenges of the pandemic, we’ve continued to build on the incredible success of Disney+ as we grow our global direct-to-consumer businesses,” Chapek said. “The global reach of our full portfolio of direct-to-consumer services now exceeds an astounding 100 million paid subscriptions — a significant milestone and a reaffirmation of our DTC strategy, which we view as key to the future growth of our company.”
With offerings from the worlds of Star Wars, Pixar and, of course, the Marvel Cinematic Universe, is it any wonder the platform reached such a high target so soon!?
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