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Disney+ Surpasses 50 Million Subscribers In Five Months

Walt Disney Co.'s streaming service Disney+ now has 50 million paid subscribers globally, with the company achieving the milestone within five months after its U.S. launch.

The new milestone was reached as millions of people, who are stuck at home around the world due to lockdowns related to the coronavirus pandemic, are spending more time online.

The company last year expected that Disney+ would have 60 million to 90 million subscribers around the world by the end of fiscal 2024. But, it has almost reached the target within five months.

The company had said Disney+ recorded 28.6 million paid subscribers as of February 3.

Online-video streaming giant Netflix Inc. (NFLX) said in January that it had 167 million paid memberships worldwide.

In the past two weeks, Disney+ launched in eight Western European counties including the UK, Ireland, France, Germany, Italy, Spain, Austria, and Switzerland, Disney said today.

In addition, the service became available last week in India, where it is offered in conjunction with the existing Hotstar service. It already accounts for about eight million of Disney+'s 50 million paid subscribers.

"We're truly humbled that Disney+ is resonating with millions around the globe, and believe this bodes well for our continued expansion throughout Western Europe and into Japan and all of Latin America later this year," said Kevin Mayer, Chairman of Walt Disney Direct-to-Consumer & International.

Disney+ was launched in the U.S., Canada and the Netherlands on November 12, 2019.

Apple Inc. also launched its original video subscription service Apple TV+ in November last year, adding to the competition. The service is available in more than 100 countries and regions.

In the U.S., Disney+ costs $6.99 per month or $69.99 per year, while Apple TV+ is available on the Apple TV app for $4.99 per month. In comparison, the monthly charge for Netflix and Amazon Prime is around $8.99.

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