The Company also shared that Disney+ has surpassed 86 MILLION subscribers and now expects that it will get MILLIONS more in the next few years. Just how many subscribers does Disney expect to get and how much money is it spending on new content? We’re breaking it down for you here.
Previously, Disney expected to get 60-90 million Disney+ subscribers by the end of Fiscal Year 2024. It’s now December of 2020 and Disney has noted that they are well ahead of their predictions with a current count of 86.8 million subscribers!
So, what are Disney’s new expectations? The Company now projects that Disney+ will have between 230-260 million paid subscribers by the end of Fiscal Year 2024. That’s more than double their previous numbers.
But, with all of the new content coming, Disney will also be spending a lot of money on its streaming services. Across all of its direct-to-consumer services, Disney expects to spend between $14-$16 billion on content through Fiscal Year 2024, with $8-$9 billion of that on Disney+ content specifically.
That $8-$9 billion, by the way, is DOUBLE the originally projected content development cost. So Disney acknowledged that it will have a higher content expense in 2024 than anticipated and expects it will reach its peak year of losses in Fiscal Year 2021. Still, Disney anticipates Disney+ will be profitable in Fiscal Year 2024.
With dozens of new projects for Disney+ announced, and many more on the way, we’re interested to see how these numbers change in the future and whether Disney+ will in fact hit (or possibly surpass) all of the Company’s expectations. We’ll definitely keep an eye out for more information and keep you updated!
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