Disney+ global paid subscribers surpass 50 million in five months

Disney+ global paid subscribers surpass 50 million in five months

  • Disney+ achieves 50 million paid subscribers milestone in 5 months.
  • The streaming service rolled out in India last week and gained 8 million subscribers.
  • Disney's new streaming service is now available in eight European countries.

In its announcement on Wednesday, Walt Disney Co. (NYSE:DIS) revealed that its paid subscribers for the recently launched streaming service, Disney+, have already surpassed 50 million worldwide. The company further added that 8 million paid subscriptions came from India where Disney+ was launched only last week.

Disney’s new streaming service aims to compete with Netflix Inc. that is already operating in more than 190 countries. According to Netflix’s last quarterly report, the streaming service had roughly 167 million paid subscribers across the globe.  

Disney+ Rolls Out In Eight European Countries

As Coronavirus continues to take the world under its grip and governments resort to nationwide lockdowns to minimize the fast spread of the flu-like virus, streaming services, and online gaming have reported a massive surge as they continue to serve as a prominent mode of entertainment for people who have been restricted to their homes.

As of Thursday, the number of people infected globally by COVID-19 has surpassed 1.5 million with the death toll quickly approaching 90,000.

Disney+ was initially rolled in the U.S last year in November. In the past two weeks, however, Disney has introduced the streaming service to 8 major European countries including Germany, France, Ireland, Spain, Italy, Switzerland, Austria, and the UK.

In India, Disney’s streaming service is available for the viewers via Hotstar. Hotstar is a streaming platform that the American mass media and entertainment conglomerate acquired in 2019 as a component of its £57 billion purchase of 21st Century Fox.

Disney To Check Visitors’ Temperatures At Its Theme Parks

Disney has taken a massive hit due to the ongoing pandemic that pushed it to temporarily close its theme parks, delay the release of its most anticipated movies, and have no live sports events to broadcast on its ESPN cable channel. In an announcement earlier this week, Disney also accentuated that it plans on implementing a system of checking visitors’ temperatures upon entry to its theme parks once they reopen after the health crisis.

Disney’s upbeat news surrounding its global paid subscribers was received well in the stock market as the company jumped around 7% in the after-hours trading on Wednesday. At £87 per share, however, the company is still trading around 25% down year to date.

Its performance in 2019, on the contrary, was reported fairly upbeat with an annual gain of more than 30%. At the time of writing, Disney has a market cap of £147 billion.

By Wajeeh Khan
Mr. Khan specialises in Public Health by academia but is a trader by passion. Taking up two new hobbies of writing and trading in his teen years, he is now a professional trader and news writer with over 5 years of experience in various financial markets. Khan is passionate about bringing insightful articles to his readers and hopes to add value to their portfolios.

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