Emarketer’s latest study relating to OTT video services in the US indicated that recently launched streaming service Disney+ By 2024, Disney+ viewers in the US will surpass 123.4 million vs. 115.6 million Hulu subscribers in 2020. Additionally, the Disney+ audience size is on track to surpass that of sibling streaming platform Hulu by 2024. “Since its launch, Disney+ has been able to grow quickly by using a low price point and leveraging a vast library of content,” said Eric Haggstrom, eMarketer forecasting analyst at Insider Intelligence.
Apple TV+, which launched in the country just before Disney+, is predicted to hit 18.8 million subs, with a content library that is far smaller with already impressive growth for Disney+, the streamer is predicted to surpass its sister streamer Hulu by 2024.
The service will experience double-digit growth each year through the end of the researcher's forecast period. Disney+ will have 72.4 million users this year, representing 32.1% of OTT viewers. The number of Disney+ viewers has blown past that of Apple TV+ (18.8 million), which is impressive given that both services launched in November 2019. 225.4 million viewers will use a streaming service at least once per month, up from the 221.9 million viewers we had previously expected back in Q1. This figure will grow to 237.1 million in 2024. Netflix is still the top subscription streaming service in the US, with 168.9 million viewers, followed by Amazon Prime Video at 130.1 million.
At the end of Q3, Disney had over 100 million streaming subscribers globally, with a little over 60 million being for Disney+. Despite this growth, the pandemic hit box office and theme park segments led to losses of US$5 billion.
Since its launch, Disney+ has been able to grow quickly by using a low price point and leveraging a vast library of content.” Eric Haggstrom eMarketer Forecasting Analyst, Insider Intelligence
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