CNN reported on Tuesday (local time) that Disney+, the world’s largest online video streaming service released by Disney, has surpassed 10 million subscribers just one day after its launch.
“Consumer interest in Disney Plus has exceeded expectations,” Disney said in a statement. “By 2024, our goal is to have up to 90 million subscribers.” A surge in the number of people trying to join Disney Plus once led to technical errors in the system.
It took five years for U.S. terrestrial network CBS to recruit 8 million paid members online. Which Disney exceeded in just one day, the U.S. CNBC said. Thanks to the surprise box-office success, Disney shares closed 7.31 percentage points higher than the previous day.
Disney+ launch, the danger for its competitors
Previously, Disney released its own streaming service, Disney+, on Wednesday. The monthly subscription fee is only at $6.99. It is about 22.2 percent cheaper than, its original series competitors, Netflix’s $8.99 monthly subscription fee. Starting with the launch in the U.S., the company will also launch the Disney+ in European markets such as Britain and Germany starting March 31 next year.
Although the short-term box office hit, experts are still unsure whether Disney+will make a soft landing in the OTT market in the future.
Disney started the service and offered one year of free Disney Plus licenses to consumers using unlimited data from Verizon, the largest U.S. mobile carrier. It will also run a seven-day free experience service for Disney Plus subscribers.
CNBC said it is uncertain if all consumers who experience free of charge will turn into paid customers. And Disney+ did not disclose the portion of its 10 million subscribers to its free experience during its one-day launch.
The rich content that Disney+ has been differentiated competitive edge. Disney+ offers a wide range of content ranging from popular hero product brand Marvel series to authentic Disney animations such as “The Winter Kingdom,” “Aladdin” and “Lion King” series.
More than 7,500 drama series and more than 500 movie content are also strong. Disney+ plans to continue to supply original content featuring Star Wars and Marvel characters.
This puts Netflix, which already suffering, in the risk of further downfall. The rival company has been bleeding out money for original content. And the revenue might keep on falling as popular contents withdrew from the service.
