Disney+, the new streaming service launched by Disney in late November to compete with Netflix has far exceeded expectations, reaching almost 29 million subscribers in this short 3-month period, compared to the 170 million that Netflix has amassed since 2007. Disney+'s success can be largely attributed to the Disney, Marvel, Pixar, Star Wars and National Geographic content that is now exclusively available on the platform, coupled with the reasonable $6.99 monthly subscription fee.
In their most recent earnings report, profits for Disney have been much better than anticipated. Their revenue has jumped spectacularly by 36% percent; however, their profits have actually declined by 25% due to increased spending on their own original content. Disney’s stock price has increased by 2%, all in spite of Disney warning that their operating income would decrease by up to $300 million due to the closing of resorts in mainland China and Hong Kong as a result of coronavirus concerns.
Disney+, which has already launched in the US, Canada, Australia, New Zealand and Puerto Rico is planned to launch in the UK and in Western Europe in the next month.
It will be exciting to see how Disney+ is doing in the near future, in comparison to other streaming services.