Disney says it now has 54.5 million Disney+ subscribers

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The Mandalorian and the Child on Disney+’s “The Mandalorian.”

Disney

Disney announced Tuesday it had 54.5 million Disney+ subscribers as of May 4, showing a slight slowdown in growth over the past month. 

Disney surpassed 50 million subscribers on April 8, up from its 33.5 million reported as of March 28. At the end of Q1 in December, Disney+ had 26.5 million subscribers.

As part of its second-quarter results, Disney said it saw growth across all of its streaming service platforms in the past quarter.  

Disney reported that Hulu has 32.1 million total subscribers, up from 30.4 million from last quarter and 25.2 million a year ago. ESPN+ had 7.9 million subscribers, up from 6.6 million at the end of Q1 and 2.2 million a year ago.

The figures highlight consumers’ need for entertainment as stay-at-home mandates keep people home across the nation. 

Disney previously forecast between 60 million and 90 million Disney+ subscribers by the end of its 2024 fiscal year.

Streaming platforms are seeing a surge in viewership during the Covid-19 pandemic. Netflix last month reported 15.77 million global paid net subscriber additions, but warned of an expected decline in viewership and slow down once shelter-in-place orders begin to lift. 

Disney shares dropped almost 3% after hours as investors digested the news and executives’ comments during the earnings call.

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