Walt Disney Co (DIS)

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Disney+ Tops 50 Million Paid Subscribers Globally
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Today : Wednesday 8 April 2020

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By Maria Armental
Walt Disney Co. reported more than 50 million paid subscribers world-wide for its Disney+ service some five months after its launch in the highly competitive streaming-platform market.

Paid subscriptions got a boost from expansion in Western Europe and India -- where it launched about a week ago as part of Disney-owned platform Hotstar. Disney reported eight million subscribers in India.

The service also was rolled out in recent weeks in eight European countries, including the U.K., France and Spain.

Subscribers can bundle Disney+ with ESPN+ and Hulu, also owned by Disney.

Disney reported 28.6 million paid Disney+ subscribers in early February. The company initially told investors it expected Disney+ to have 60 million to 90 million subscribers by the end of fiscal 2024.

Disney+ competes with Netflix Inc., Amazon.com Inc. and Apple Inc.'s Apple TV+, among other providers.

Shares rose 7% to $108.50 in after-hours trading.

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