The Disney+ (NYSE:DIS) streaming service has reached a new milestone.
Walt Disney Co.’s flagship streaming platform has surpassed 100 million users 16 months after its launch, quickly establishing the service as Netflix’s biggest competitor.
Disney announced that it reached the milestone of 100 million subscribers ahead of its annual meeting. Disney+ debuted in the U.S. in November 2019 and rolled out to Canada, Australia, Latin America and Singapore throughout last year.
The rapid rise of the service underscores the power of the Disney brand, along with its popular content and franchises that include Marvel, Star Wars and Pixar animation. Netflix, the pioneer in subscription streaming, finished 2020 with almost 204 million subscribers worldwide.
The success has prompted Disney to increase the programming budget for Disney+. The Burbank, California-based company has set a target of more than 100 new television shows and movies a year. The service is now available in 59 countries.
Disney also said that its Disneyland resort in Southern California will reopen in late April on a limited basis and that its cruise lines may resume operations by this fall. Both businesses were shut down by the pandemic.
