Disney Plus continues to pull in subscribers, with the streaming service already reaching 60.5 million subscribers less than a year since its launch.
Before the SVoD debuted the Disney hierarchy had said they hope it would reach between 60-90 million global subs in its first five years. It’s already reached the lower end of that target in its first nine months.
After rising from 54.5 million subscribers as of the beginning of May, Disney Plus reached 57.5 million subscribers by the end of June before surpassing the 60 million in the last couple of days.
However, Disney Plus has less than a third of Netflix’s subscriber base, which has nearly 193 million global subscribers.
In announcing its Q2 results, Disney said the company’s D2C and international segment is currently the only division that generated year-over-year revenue growth during the quarter, rising 2 per cent to $4 billion. The unit delivered an operating loss of about $706 million, which was $200 million less of a loss than previously forecast, thanks to the growth of Disney Plus and Hulu.
Disney’s direct-to-consumer offering is a “top priority and key to the future of the company,” CEO Bob Chapek told investors.