Disney nails another milestone as subscribers soar in number

December 11, 2020 02:26 PM AEDT | By Kunal Sawhney

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Disney nails another milestone as subscribers soar in number

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Summary

Disney has announced an array of new content to capitalise on the growing demand for its online streaming service Disney+

The company recently reshuffled its organisation's structure to take on streaming giant Netflix aggressively.

Entertainment giant The Walt Disney Company (NYSE:DIS) is only one year old in the online streaming service business, but the company seems to have left no stone unturned to achieve success. On Thursday 10 December 2020, Disney revealed details of its impressive list of content. Over 50 movies and shows will be launched on Disney+ connected to franchises like Star Wars, FX and National Geographic.

Disney showcased insights and updates during the investor’s day presentation about its streaming services and also the plans for theatrical releases of its content. Its 2020's much-awaited movie Mulan had to be released on its online platform Disney+ because of the theatres' closures amid the coronavirus pandemic. Disney had suffered immensely with its entertainment theme parks being closed for many months. However, the company saw online streaming portal booming with success, amid COVID-19 crisis.

Disney+ was launched in 2019, and by June 2020, the platform had a subscriber base of 57.5 million. Now it touts 86.8 million subscribers which is another milestone for the company. The fans celebrated on social media after Disney announced a slew of new content on Disney+, Hulu, ESPN+ and for the box office release.

The company expects its Disney+ subscribers’ volume to reach between 230-260 million by 2024

Also read: Online streaming booming amid pandemic, apple tv giving free services, Netflix increases fees

Recent organisation reshuffle

The company recently announced a strategy to shed its old Avatar to take on streaming giant Netflix aggressively. In order to strengthen its online content, the company completely reshuffled its organisation's structure.

Image Source - ©Kalkine Group 2020

A new unit is dedicatedly focusing on the content generation and content monetisation for online platforms. Walt Disney's reorganising media and entertainment business came as a surprise to everyone in the industry. Disney is indeed pulling out all the stops to capitalise on the growing demand for its online streaming service Disney+.

Disney's chairman and former CEO Bob Iger said that it's all about the quality and not quantity as quality holds value for the Walt Disney Company. Recently after the reorganising structure, Disney's new unit is focusing on monetising Disney content via distribution and ad sales.

Good read: The Walt Disney Company (NYSE:DIS) sheds its old Avatar to aggressively take on Streaming Giant Netflix

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