Disney+ Hits 86.8 Million Subscribers

By Claire Spellberg @c_spellberg
Published Dec. 10, 2020, 4:42 p.m. ET

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Disney+ has officially hit 86.8 million global subscribers, Disney CEO Bob Chapek revealed during the company’s earnings call Thursday afternoon. The year-old streaming service added more than 25 million subscribers in Q4 2020, largely thanks to the platform’s expansion into Latin America and the Caribbean in November.

“Disney+ has exceeded our expectations,” Chapek told investors this afternoon. “With more than 86.8 million subscribers as of December 2, that’s quite an achievement. This success has bolstered our confidence, and …more importantly, it’s launched the Walt Disney Company into a new era of delivering consumers truly exceptional entertainment built around our world renowned brands and franchises.”
“We’re incredibly proud of how much our stories have been embraced by people around the world,” he continued. “We’re confident the future of The Walt Disney Company is a bright one.”

When Disney+ first launched in November 2019, executives told investors that they hoped to reach 60 to 90 million subscribers by 2024. As it turns out, the service needed only nine months to hit the low end of that range (Disney+ reached 60.5 million global subscribers in August 2020), and just over a year to reach the upper end.
With its 86.8 million global subscribers, Disney+ is a legitimate threat to streaming giant Netflix, which reported more than 195 million global customers during its Q3 2020 earnings call in October. However, according to CNBC, Netflix added just 2.2 million subscribers during the quarter, a figure that fell short of many analysts’ estimates.

Disney executives also revealed new information about Hulu and ESPN+ during the earnings call. According to Rebecca Campbell, Chairman, International Operations and Direct-to-Consumer, Hulu now has a combined 38.8 million subscribers to its SVOD and live TV bundle, a figure that has increased by more than 3 million since August. Meanwhile, ESPN+ has attracted 11.5 million subscribers as of December 2, and in the coming months, subscribers will be able to access the app directly through Hulu’s interface.
Beginning in January, customers interested in all three services will have access to a new Disney bundle that offers Disney+, ESPN+, and Hulu with no ads for $19/month. This bundle is priced $6 higher than the company’s previous offering (Disney+, ESPN+, and Hulu with ads), which will still be available to subscribers.

Now that Disney+ has surpassed its initial subscriber goal, the company will look to build upon its early success by expanding to new regions, including South East Asia. In the months ahead, Disney+ will debut new Marvel series like Falcon and the Winter Soldier, Loki, and WandaVision, as well as Star Wars TV and film content, Pixar films, and more.

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