Disney+ To Outstream Netflix By 2025
Disney CEO Bob Chapek updated shareholders last week regarding subscriber numbers for the company’s streaming network announcing that in just over a year, Disney+ now boasts over 100 million subscribers. This is significant because in one year, Disney has managed to surpass its three year goal of having over 95 million subscribers
Now it looks as if analyst are predicting that Disney+ is on target to surpass streaming juggernaut Netflix by 2025.
It should be noted that it took Netflix an entire decade to reach 100 million subscribers. Look at this in tandem with Disney’s other streaming networks including ESPN+ and Hulu and according to a recent piece in The Guardian, it looks like Disney could dethrone Netflix in just four more years.
In December, bolstered by larger-than-expected subscriber numbers, Disney tripled its projections saying that it was on target to achieve 260 million by 2024. With the theme parks shut down, the company has also adjusted its business development strategy to favor streaming and has upped its content budget to $15 billion.
It should be noted that Netflix is still going strong and currently sits at around 203.7 million subscribers. Amazon Prime Video is expected to have about 147 million global users.
That being said, Richard Broughton an analyst with Ampere Analysis told The Guardian that the future looks bright for Disney+ saying, “Disney+ has obviously experienced some of the fastest growth seen from a subscription video-on-demand service; kudos to them for establishing themselves as a global force so fast.” Broughton continued, “While Disney+ is still only half the size of Netflix, it has reached that milestone in an unprecedented timescale.”
Ampere went on to say that it believes Disney Will overtake Prime Video in 2024 to become the worlds 2nd most powerful streaming service. It expects Netflix to remain tops with Disney narrowing the lead by 2025. However, when taking ESPN+ and Hulu into account Disney could potentially come out tops in three years time.
On the surface, the runaway success of Disney+ can be surprising especially given that its catalogue of new releases isn’t as robust as its competitors. As The Guardian points out, in January, Disney+ offered 4,500 of content compared with 40,000 by Netflix and 50,000 by Amazon. But Disney does boast a large family-friend back catalogue and has set the current target of adding 100 new titles to the service each year.
“It is about quality over quantity,” Broughton said. “The others have volume, Disney relies on the quality of its brands. It has shows and films that people, fans, feel they must watch.”
This is a story that we’ll continue to follow closely here at MickeyBlog. Readers are encouraged to keep checking in with us for further news and updates.
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Source: The Guardian