Disney’s foray into streaming with Disney+ is no doubt a little late when compared to the competition like Netflix and Hulu, but thanks to the company’s strong branding, reputation, and its catalogue which plays home to many beloved franchises, they have managed to gain a lot of traction fairly quickly.
In fact, according to Disney’s quarterly earnings report, the company has revealed that in just 10 days, from the 28th of March, 2020 to the 8th of April, 2020, they managed to add a whopping 16.5 million new subscribers to its Disney+ platform. The platform is now host to 54.5 million paid subscribers as of the 4th of May.
Back in April, Disney boasted that its platform had crossed the 50 million subscriber mark, but now more details have been revealed, such as the massive 16.5 million subscriber growth spurt. This is presumably largely due to the coronavirus pandemic which has forced many to stay home to work and study, meaning that more people are starting to seek out other forms of entertainment that they might not have considered before.
That being said, Disney+ is still very much lagging behind the competition like Netflix who last we heard, had 182 million subscribers. We imagine this gap could be easily closed once Disney+ expands its availability to the rest of the world.