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Disney Set to Take Netflix’s Crown as World’s Biggest Streaming Service

By 2024, streaming service Disney+ is set to be on top.

License Global

March 17, 2021

1 Min Read
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The Walt Disney Company announced earlier this month that its Disney+ streaming platform, which launched in late 2019, had passed more than 100 million global subscribers. Now, according to a report from The Guardian, it’s set to overtake Netflix as the world’s biggest streaming service.

The 100 million subscriber mark took Netflix a decade to achieve. Along with subscriber numbers for the group’s ESPN+ sports platform and Hulu subscription service in the U.S., the growing subscriber base puts Disney on track to dethrone Netflix by 2024.

“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,” Richard Broughton, analyst, Ampere Analysis told The Guardian. “While Disney+ is still only half the size of Netflix, it has reached that milestone in an unprecedented timescale.”

In December, Disney tripled its target to 260 million by 2024, then doubled its content budget to $15B.

“The enormous success of Disney Plus has inspired us to be even more ambitious, and to significantly increase our investment in the development of high-quality content,” Bob Chapek, chief executive officer, Disney, said during its annual shareholders meeting. “In fact, we set a target of 100-plus new titles per year, and this includes Disney Animation, Disney Live Action, Marvel, Star Wars and National Geographic. Our direct-to-consumer business is the company’s top priority, and our robust pipeline of content will continue to fuel its growth."

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About the Author(s)

License Global

License Global is the leading news source for the brand licensing industry, delivering award-winning editorial content including news, trends, analysis, and special reports about the global consumer product and retail marketplace.

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