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Disney+ has more than 28 million subscribers. There’s been much speculation over the last few months surrounding how well Disney+ has been doing. That speculation has now come to an end with the company confirming the streaming service is doing very well.
Disney launched the Disney+ streaming service on November 12 in the U.S. At the time it became immediately clear that Disney had a hit on its hands considering the service attracted more than 10 million subscribers in the first 24 hours. Over the next couple of months, the predictions and estimations kept rising with many suggesting Disney+ has managed to rack up in the region of 25 million subscribers.
Disney today released its latest quarterly results and confirmed the service has now attracted more than 28 million subscribers. Officially, the release stated 26.5 million (as of the close of the quarter) although in the earnings call following the release, Disney CEO, Bob Iger explained the number had climbed to 28.6 million since then. This is the first time the company has provided any official figures since the initial ten million in the first day.
Disney+ questions still linger
Regardless of the current number of subscribers, some Disney+ questions still remain and likely will continue to linger over the company for the next year, possibly even years. As part of the Disney+ launch cycle, Disney embarked on a heavy promotional campaign which saw the cost of the subscription service reduced, and sometimes greatly.
One of the largest contributions in this sense is Verizon who after teaming up with Disney+ begun offering Verizon wireless customers a year’s worth of the streaming service for free. In addition, Disney+ offers some sizable discounts of its own to those who opted to pay in advance for lengthy subscriptions. At the top end of the scale, some subscribers have already paid up for three years.
It will take time for all of these free and discounted accounts to turn into paid subscribers, and that’s if they do even migrate over to a paid status. If not, then the service will likely see a large number of subscribers leaving when the promotional pricing comes to an end.
Irrespective, the overall picture for Disney+ appears to be extremely positive. This is still a service that’s young in age and has yet to reach its maximum potential. For example, Disney+ has yet to go global and that expansion is likely to only send the number of subscribers soaring even higher.
The streaming service has also yet to really take full control over its vast catalog with many titles still licensed out to other TV and streaming services. Eventually, once all of the Disney catalog comes back into the fold, and the service has completed its global rollout, a fuller picture of just how well Disney+ is doing will become clear.