Disney Plus hits nearly 29 million paid subscribers in three months

In less than three months of its launch, Disney Plus streaming service has reached close to 29 million paid subscribers. Despite this growth, apparently, investments into Disney Plus streaming service has led to a 23% profit decline for Disney in latest quarter. Launched in vember last year, Netflix rival mand to rack up close to 26.5 million subscribers as of December 28, end of its fiscal first quarter. 

Disney Plus wants to reach 60 million to 90 million subscribers worldwide by 2024. Disney also had 30.4 million Hulu customers and 6.6 million ESPN Plus subscribers as of December 28. Disney Plus is currently available in U.S., Canada, Nerlands, Australia, and New Zealand.

Disney plans to launch Disney Plus in Western Europe, India and Latin America over next two years. Disney Plus is set to launch in India on March 29. Meanwhile, Hotstar, Walt Disney Company’s OTT division operating under Star India, will be branded as Disney+ Hotstar. What’s more, it also plans to roll out Hulu outside U.S. in 2021.

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Disney has been turning to heavy promotions to boost Disney Plus in early months. Disney, for example, struck a deal with Verizon to give some customers a free year. Disney said about 20% of its subscribers came through Verizon. About half signed up directly through Disney and rest from or channels.

Original series on Disney Plus include “Star Wars” series “ Mandalorian.” One of hit characters from show resembles a baby version of Yoda. Disney CEO Bob Iger told analysts Tuesday that “Baby Yoda” consumer products will go on sale in coming months. He said “sensational response” to character said a lot about Disney Plus.

company also said a second season for “ Mandalorian” is coming in October and said priority for “Star Wars” going forward is through streaming service. After 42 years, franchise just concluded its nine-part core series with “Star Wars: Rise of Skywalker” in aters.

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Disney has said next “Star Wars” atrical movie, which is to be set outside Skywalker saga, isn’t scheduled for release until 2022.

(With AP inputs)