Disney announced Thursday that its streaming platform surpassed 94.9 million subscribers. The company announced the number as part of its earnings report for the December quarter. The company’s stock was up about 2% after hours on the news.
Disney+ exceeded the company’s initial subscriber goal of 60 million to 90 million by 2024 back in November, forcing it to reforecast. The company now expects Disney+ will have 230 million to 260 million subscribers by 2024.
Disney has seen rapid growth in subscribers since its launch in November 2019. On day one, the company had 10 million sign-ups and, by the end of the first quarter, the service had secured 26.5 million subscribers.
As the pandemic raged on, keeping consumers indoors, Disney+ jumped from 33.5 million subscribers in its second quarter to 57.5 million in its third.
In the fourth quarter, the company surpassed 73.7 million subscribers. Disney updated that figure during its December investor day, saying that the service had reached 86.6 million subscribers.
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SOURCE: CNBC, Sarah Whitten