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Disney Plus passes 50 million subscribers, and its stock went way up

Disney Plus has more than 50 million paid subscribers

Disney+ announced it has surpassed the 100 million mark for subscribers
Disney Plus is officially live, bringing the Walt Disney Company right into the streaming services war.
Disney

Disney Plus, the relatively new streaming service from the Walt Disney Company, has more than 50 million paid subscribers to its credit, the company announced Wednesday afternoon.

  • Disney Plus launched five months ago in November 2019. It is available in more than 12 countries across the world.
  • “We’re truly humbled that Disney Plus 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,” said Kevin Mayer, chairman of Walt Disney Direct-to-Consumer & International. “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 Plus.”

Some context:

  • Disney Plus launched in November 2019, bringing a slew of nostalgia content to streaming. In addition to classic Disney and Marvel films, the service included Star Wars animated shows and live-action films, as well as the new original show “The Mandalorian.”
  • Disney added its service to multiple European countries, like the U.K., Ireland, France, Germany, Italy, Spain, Austria and Switzerland, in the last two weeks alone. Disney Plus also became available in India, too.
  • Disney Plus has found success from a balance of new, original content and nostalgic films for all ages. That success is above expectations. Experts predicted Disney Plus to hit 50 million subscribers in 2022, according to The New York Times.
  • Disney Plus is already ahead of some competitors, too. Hulu — which is owned by Disney — has about 30 million subscribers, which it has garnered over 13 years. Netflix, one of the pioneers of the streaming industry, has about 167 million subscribers.

How to helped the market

  • Disney’s stock jumped 5.4% after the news dropped, adding almost 40 points to the Dow’s overall price,
  • J.P. Morgan analyst Alexia Quadrani told MarketWatch that Disney Plus “impressed” her with the number.
  • She wrote to investors, “We view Disney Plus as a core driver to the company’s extensive ecosystem of consumer touchpoints, which we believe will benefit the parks and studio once normal operations resume.”