Walt Disney Co. in Burbank on Wednesday said that its Disney+ streaming service had signe up 50 million paid subscribers globally.
When the service launched in November, Disney projected a global subscriber base of 60 million to 90 million by fiscal 2024, which is also when the streaming service is expected to break even.
In the past few weeks, Disney+ has rolled out in eight Western European countries, including the United Kingdom, Ireland, France, Germany and Spain as well as becoming available in India, which accounts for 8 million of the paid subscribers.
Kevin Mayer, chairman of the Disney Direct-to-Consumer & International business unit, said it was truly humbling that Disney+ was resonating with millions around the world and that it bodes well for the expansion into the rest of Western Europe, Japan and all of Latin America later this year.
“Great storytelling inspires and uplifts, and we are in the fortunate position of being able to deliver a vast array of great entertainment rooted in joy and optimism on Disney+,” Mayer said in a statement.
Shares of Disney closed Thursday up $3.43, or about 3.4 percent, to $104.50 on the New York Stock Exchange.