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Disney+ reports 54.5m subscribers

Live-action Star Wars series The Mandalorian

The latest figures released by The Walt Disney Company (TWDC) show its streaming service Disney+ has 54.5 million paid subscribers globally.

The service, which is now available in more than a dozen countries, has been well received following its original launch in the US, Canada, Australia, New Zealand, the Netherlands and Puerto Rico last year.

Since then, it has launched in the UK, Ireland, Germany, Italy, France, Spain, Austria and Switzerland, while additional Western European markets, including Belgium, the Nordics and Portugal, will follow this summer.

Additionally, Disney+ became available last month in India, where it is offered in conjunction with the existing Hotstar service.

TWDC also reported Hulu has 32.1 million total subscribers, up from 30.4 million from last quarter and 25.2 million a year ago. ESPN+, meanwhile, has 7.9 million, compared with 6.6 million at the end of Q1 and 2.2 million a year ago.

The lockdown in numerous countries over the past month has been identified as a huge opportunity for streaming services such as Disney+, which reached the 50 million subs milestone a month ago.

The service offers 26 original series, such as Star Wars spin off The Mandalorian, alongside library content from brands such as Disney, Pixar, Marvel, Star Wars, National Geographic and The Simpsons.

TWDC has set a target of reaching between 60 million and 90 million subscribers and achieving profitability in the fiscal year 2024, but some analysts have predicted it could reach 130 million in five years. In comparison, market leader Netflix has around 160 million subscribers.

Although Disney+ has so far been a resounding success for the Mouse House, TWDC is being hit by the coronavirus pandemic generally, with its theme parks and other key areas of its global business suffering.

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