Disney Plus Racks Up 50 Million Subscribers in 5 Months

“This bodes well for our continued expansion,” Kevin Mayer, Disney’s streaming chairman, said in a statement.

Last month, Disney introduced the service in eight European countries and India, operating under a rollout schedule set last year. Mr. Mayer said Disney Plus would arrive in Japan and Latin America by the end of the year.

Analysts say the coronavirus pandemic has most likely helped Disney Plus maintain existing subscribers and attract new ones, as parents look for ways to entertain homebound children. Disney Plus, which offers movies and shows from the Disney, Marvel, Pixar, “Star Wars,” National Geographic and “Simpsons” universes, has also benefited from a low monthly cost — $7 for those paying full price — and zealous marketing. An exclusive Disney Plus offering, “The Mandalorian,” a live-action “Star Wars” series, has been a runaway hit.

Disney shares increased about 7 percent in after-hours trading on Wednesday, buoyed by the subscriber count.

The pandemic has battered Disney, which has lost roughly $70 billion in market capitalization since the beginning of February. With its movie, theme park, television production and merchandise businesses at a near standstill, Disney has slashed executive salaries by up to 30 percent; starting on April 19, the company will begin furloughing nonessential employees.

Article source: https://www.nytimes.com/2020/04/08/business/disney-plus-50-million-subscribers.html