Disney to beat Netflix to title of world’s biggest streamer by 2024
Disney is expected to usurp Netflix as the world’s most popular streaming service. The forecast comes after a whirlwind period of growth (helped, in no small part, by COVID-19 lockdown measures) for the Walt Disney Company’s Disney+ platform, which has accrued an astonishing 100 million global subscribers since its launch less than 18 months ago. With further growth across their Hulu and ESPN+ properties, analysts now forecast that the incumbent leader will be forced to forfeit their crown to Disney by 2024.
Having firmly beaten executives’ predictions that it would attract 90 million subscribers after 5 years, Disney’s management have high expectations for the relatively young platform. The company have tripled Disney+’s 2024 subscriber target to 260 million and have doubled their content budget to USD $15bn (£10.8bn). The increased investment will take care of the platform’s comparatively slender supply of content – Disney+ currently offers 4,500 hours of programming compared to main competitors Netflix (40,000) and Amazon Prime (50,000).
Meanwhile, Netflix announced that they breached the 200 million global subscriber mark at the start of this year. The current champ will see this figure rise to 269 million by 2023 and then 279 million in 2024. By this point, however, Walt Disney’s total global subscriber count will have shot to 295 million, predicts Ampere Analysis.