ENTERTAINMENT

Disney+ has already scored 28.6 million subscribers since launch

Feb 4, 2020, 4:41 PM | Updated: Feb 8, 2020, 9:20 am
Disney+ 26 million subscribers...
In 3 months, Disney+ has already scored 26.5 million subscribers the company reported in its first fiscal quarter (Photo credit: Lucasfilm 04 Feb 20).
Originally Published: 04 FEB 20 16:12 ET

(CNN) — Disney+ has brought in nearly 30 million subscribers since its launch in November, the company reported on Tuesday.

The company’s new streaming service nabbed 26.5 million subscribers last quarter, the company said in its earnings report on Tuesday, exceeding analyst expectations.

Disney+’s growth has continued this year, and the service has 28.6 million subscribers as of Monday, Bob Iger, Disney’s CEO, said in an earnings call.

Disney+, which launched on November 12, is the company’s first foray into the streaming world. The service, which includes Disney’s deep content vault and an affordable price of $6.99 per month, is a major endeavor for the company and a shift in focus for its business overall. Disney has projected that Disney+ will have 60 million to 90 million global subscribers by 2025.

“We had a strong first quarter, highlighted by the launch of Disney+, which has exceeded even our greatest expectations,” Bob Iger, Disney’s CEO, said in a statement on Tuesday. “Thanks to our incredible collection of brands, outstanding content from our creative engines and state-of-the-art technology, we believe our direct-to-consumer services, including Disney+, ESPN+, and Hulu, position us well for continued growth in today’s dynamic media environment.”

Disney also reported that revenue at the company rose to $20.8 billion, a 36% increase compared to a year earlier. The number matched Wall Street’s expectations.

Disney saw positive revenue across the board. The company’s movie studio had a strong quarter with $3.7 billion in revenue, which was up more than 100% over the year prior. The company’s streaming unit also saw revenue go up more than 100% from last year, bringing in $3.9 billion.

Disney also gave details about Hulu and ESPN+, its other streaming services. ESPN+ has 7.6 million subscribers and Hulu has 30.7 million subscribers as of Monday.

Both ESPN+ and Hulu likely saw a bump thanks to being a part of a streaming bundle alongside Disney+ for $12.99 a month.

Disney+ includes many of the company’s major brands including Marvel films, Disney animated classics and an original series set in the Star Wars galaxy, “The Mandalorian.”

The other major topic of discussion on Disney’s post-earnings call was how the company’s businesses could be impacted by the coronavirus going forward.

The company told investors that Disney could take a $175 million hit due to its China theme parks being closed because of the virus, assuming the parks are closed for two months.

Disney shares were mostly flat in after-hours trading.

The-CNN-Wire
™ & © 2020 Cable News Network, Inc., a WarnerMedia Company. All rights reserved.

Today’s Top Stories

Entertainment

rust alec baldwin...
ANDREW DALTON AP Entertainment Writer

Lawsuit settled, filming of “Rust” may resume after Alec Baldwin shooting

Matthew Hutchins, widow of cinematographer Halyna Hutchins, says filming will resume on "Rust" in January with the same principal players.
18 hours ago
big dog adoption...
Simone Seikaly

Best Friends waives adoption fees for large dogs during October

The society reports that animal shelters and rescue groups across the state are filled with dogs that weigh over 40 pounds.
18 hours ago
Arctic Monkeys pictured performing....
Waverly Golden

Arctic Monkeys coming to Salt Lake City in 2023

The Arctic Monkeys, the English rock band, announced their 2023 tour dates and Salt Lake City made the list. 
3 days ago
LOS ANGELES, CALIFORNIA - SEPTEMBER 17: Sacheen Littlefeather on stage at AMPAS Presents An Evening...
Toyin Owoseje, CNN

Sacheen Littlefeather, Native American activist and actress, dead at 75

In August, the Academy formally apologized to Littlefeather for the mistreatment she experienced during her speech and in the years that followed.
3 days ago
Actor Conor Leslie with her newly adopted dog, Delores at the FanX convention that was held Sept. 2...
Amie Schaeffer

DC Universe star finds fur-ever friend at SLC FanX convention

Ruff Patch Rescue is a nonprofit that helps adopt out animals that need a little extra TLC. The organization recently set up at FanX.
8 days ago
Netflix gaming...
Catherine Thorbecke, CNN Business

Netflix to open its own video game studio as part of gaming pivot

The streaming giant is building its first in-house video game studio in Helsinki, Finland, as it expands its empire over mobile games.
8 days ago

Sponsored Articles

Young woman receiving laser treatment...
Form Derm Spa

How facial plastic surgery and skincare are joining forces

Facial plastic surgery is not only about looking good but about feeling good too. The medical team at Form Spa are trained to help you reach your aesthetic outcomes through surgery and through skincare and dermatology, too.
large group of friends tohether in a park having fun...
BYU MBA at the Marriott School of Business

What differentiates BYU’s MBA program from other MBA programs

Commitment to service is at the heart of BYU’s MBA program, which makes it stand out among other MBA programs across the country.
a worker with a drill in an orange helmet installs a door in the house...
Price's Guaranteed Doors

Home improvement tip: Increase the value of your home by weatherproofing doors

Make sure your home is comfortable before the winter! Seasonal maintenance keeps your home up to date. Read our tips on weatherproofing doors.
Curb Appeal...
Price's Guaranteed Doors

How to have the best of both worlds for your house | Home security and curb appeal

Protect your home and improve its curb appeal with the latest security solutions like beautiful garage doors and increased security systems.
A paper reading IRS, internal revenue service is pictured...
Jordan Wilcox

The best strategies for dealing with IRS tax harassment | You have options!

Learn how to deal with IRS tax harassment. This guide will teach you how to stop IRS phone calls and letters, and how to handle an IRS audit.
spend a day at Bear Lake...
Bear Lake Convention and Visitors Bureau

You’ll love spending the day at Bear Lake | How to spend a day at Bear Lake

Bear Lake is a place that needs to be experienced. Spend a day at Bear Lake.
Disney+ has already scored 28.6 million subscribers since launch