Disney+ boasts 100 million subscribers

Disney+ has hit a major milestone with 100 million subscribers less than two years after it launched.

Sarah Whitten from CNBC reported:

Disney+ has topped 100 million global subscribers.

On Tuesday Disney CEO Bob Chapek revealed the streaming service surpassed the benchmark in just 16 months since its launch.

“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,” Chapek said in statement.

CNN’s Frank Pallotta wrote:

Disney, one of the largest and most established media companies, pivoted its entire business to streaming — a move that has helped keep the company afloat through a pandemic that hobbled multiple parts of its business, forcing it to shutter parks and resorts and delay major blockbusters.

The 100 million subscriber mark also shatters Disney’s initial projections: The company told investors in 2019 that it expected Disney+ would have 60 million to 90 million global users by 2024.

Lisa Richwine from Reuters noted:

Disney was hit hard by the coronavirus pandemic as theme parks and movie theaters were forced to shut down, but it has impressed Wall Street with the growth of Disney+, which debuted in November 2019.

The company is hoping for a comeback at cinemas this year. It currently is holding firm to plans to release Marvel movie “Black Widow” in movie theaters on May 7, Chapek said.