DISNEY+ REACHES 50 MILLION GLOBAL SUBSCRIBERS

Walt Disney Co. revealed that its app, Disney+ surpassed the 50 million paid subscriber milestone worldwide. The company saw a massive increase in subscribers after the service became available in more countries around the world. "We're truly humbled that Disney+ is resonating with millions around the globe, and believe this bodes well for our continued expansion throughout Western Europe and into Japan and all of Latin America later this year," Kevin Mayer, Chairman of Walt Disney Direct-to-consumer & International, said in a statement. "Great storytelling inspires and uplifts, and we are in the fortunate position of being able to deliver a vast array of great entertainment rooted in joy and optimism on Disney+."

Disney+ made its debut in the US, Canada, and the Netherlands on 12 November and within a couple of days achieved 10 million sign-ups. A week later it launched in Australia, New Zealand, and Puerto Rico. In February, Disney said that it had reached 28.6 million subscribers in its initial five markets, with its distribution deal with Verizon, accounting for approximately a fifth of that figure. On 24 March, the app was released in European cities, which include the U.K., France Germany Italy, and Spain,  as well as India on Friday. According to Disney, the India launch, made in conjunction with the Hotstar service it acquired in its purchase of the Fox assets, accounts for eight million of Disney+’s subscribers. 

By reaching the 50 million mark, Disney+ has skyrocketed past corporate sister service Hulu, which acquired more than 30 million subscribers and well on its way to catch up to Netflix’s 167 million subscribers. The app’s growth has nearly doubled its base since its last disclosed subscriber count in early February. The service has already accumulated one-third of Netflix’s size, which began streaming more than 10 years ago. The company's shares were trading up to more than 6% after-hours on Disney+ news. Disney+ offers a vast library of programming, from original series like “The Mandalorian” to classic TV shows like “The Simpsons” to films from Marvel, Pixar, and Lucasfilm.