Walt Disney Co. ’s flagship streaming service, Disney+, has surpassed 100 million subscribers in its first 16 months of operation, the company said Tuesday.
Powered by fan favorites like “The Mandalorian” and “WandaVision,” the service is on track to meet the company’s projection of 260 million subscribers by 2024. The company last reported 94.9 million subscribers as of Jan. 2.
Disney Chief Executive Officer Bob Chapek reiterated at a shareholder meeting Tuesday that the company’s streaming strategy is his priority, noting that Disney has set a bullish target of adding more than 100 new titles to the service each year. Leading streaming platform Netflix Inc. said in January that it had 203.7 million subscribers.
Disney’s shareholder meeting came almost exactly one year after Covid-19 rewrote the rules of American business. Last March, Disney theme parks and American theaters closed, a shutdown that is only recently starting to loosen. Wall Street has remained focused on Disney’s streaming plans, a company reorientation that has sent Disney shares to all-time highs.
Parts of Disney’s traditional businesses will likely return to some semblance of normalcy in the coming months. California officials announced a path to reopening last week that puts the company’s Disneyland theme park on track to open at reduced capacity in late April. Only 45% of North American movie theaters are currently open, though Disney reiterated that it expects to give a theatrical release to its Marvel Studios superhero film “Black Widow” when it comes out in May.
