DISNEY+ REACHES 86 MILLION SUBSCRIBERS; ANNOUNCES PRICE HIKE AND NEW CONTENT

The Walt Disney Co. announced that its streaming service, Disney+ has garnered more than 86 million subscribers since launching in November 2019, as CEO Bob Chapek announced. Disney’s streaming services now have a combined total of 137 million subscribers. The company also announced an increased price change and the rollout of news shows and movies. "We knew this one-of-a-kind service featuring content only Disney can create would resonate with consumers and stand out in the marketplace," Disney CEO Bob Chapek said on Thursday. "And needless to say, Disney+ has exceeded our wildest expectations."

Disney also announced that the service's monthly fee in the US will be going up by USD 1 on 26 March to USD 7.99. Disney+ currently costs USD 6.99 per month, so the new monthly price in the U.S. will be USD 7.99. Annual subscriptions will rise from USD 69.99 per year to USD 79.99 per year. Strong demand for Disney+ led the company to boost its long-term subscriber estimates.

Disney Plus’ latest subscriber influx came amid its expansion into parts of Latin America in late November. Just before the rollout, Chapek announced that Disney Plus had amassed just under 75 million subscribers globally. Approximately 30% of Disney+ subscribers come via its integration within India’s Hotstar. The company's stock rose roughly 3% in after-hours trading on the news.

Disney+ spent about USD 2 billion on content in 2020, according to McCarthy. The company had already reached the projected 60-90 million subscribers is expected to have by 2024 and has now reached the top end of that projection. Despite projected peak losses next year, the conglomerate expects all its streaming services to collectively reach between 300-350 million subscribers by 2024. The company also announced that Hulu has reached 38.8 million subscribers and ESPN Plus has amassed 11.5 million subscribers. “With our amazing creative teams and our ever-growing collection of the high-quality branded entertainment that consumers want, we believe we are incredibly well-positioned to achieve our long-term goals.”

Over the next few years, the company expects to roll out 10 more “Star Wars” series, 15 live-action Disney films, 15 Pixar films, and over 10 different Marvel series, including the upcoming “WandaVision,” which debuts on Jan. 15. The additions also inlcude Disney Animation's "Raya and the Last Dragon," which will be available to rent for an extra fee on Disney+ as well as theaters in March, “Falcon and Winter Soldier” with Anthony Mackie and Sebastian Stan, and Tom Hiddleston’s “Loki. "It is important to note that all of these distribution plans reflect our current view of the media and entertainment landscape," Kareem Daniel, the chairman of media and entertainment distribution for Disney, said. "The Walt Disney Company is uniquely positioned to execute this consumer-centric strategy."