Amid the ongoing pandemic, more families than ever before have turned to streaming services for their entertainment needs.
Netflix — the undisputed giant of streaming on demand — was the first company in this space and has long been considered the best. Now, however, The Walt Disney Company’s exclusive streaming platform, Disney+, is seemingly beating Netflix at its own game.
According to a Yahoo! Finance report:
Disney’s core streaming app has overtaken Netflix as the fastest-growing streaming platform on the market. Over the past 3 quarters, Disney+ has added an astounding 47.2 million subscribers, and its growth is accelerating every quarter with further international penetration.
Netflix has added 28 million in 2020 thus far, but it’s experiencing a massive deceleration with only 2 million new subscribers being added this past quarter. It appears that Netflix might be hitting a growth ceiling as its potential international customers consider their options.
As Yahoo! points out, one of the big reasons for this is Disney’s ability to appeal to international customers. Not only are Walt Disney Animation Studios classics — including Dumbo, Bambi, Beauty and the Beast, Cinderella, Snow White and the Seven Dwarfs, and Lady and the Tramp — beloved around the world, but also Disney has made incredibly intelligent business decisions in regard to rolling out content overseas.
For example, Disney+ partnered with Indian streaming giant Hotstar in order to significantly increase their client base in the Asian subcontinent.
The cost of Disney+ is another reason for its popularity among both domestic and international consumers. As Yahoo!’s article states:
Disney+ is less than half the price of a Netflix subscription, and its rotating catalog of internationally renowned titles is much more attractive to foreign consumers who are deciding between the two platforms.
In other words, Walt Disney Studios doesn’t have to try to “earn” new fans by creating appealing original content. Instead, they are able to harness the passion that people around the world already have for Disney characters, quickly turning Disney lovers into paying Disney+ subscribers.
That said, Disney+ is working toward adding more and more incredible original movies and series to its content library. In addition to the hit Star Wars series, The Mandalorian — which is already the most in-demand streaming show by the numbers — more Star Wars series, Marvel Studios series (like WandaVision), and standalone films (including Sneakerella) are all set to hit Disney+ next year.
Furthermore, if Walt Disney Studios continues releasing major motion pictures — such as the live-action Mulan and Pixar’s Soul — straight to Disney+, there is no doubt that subscriber numbers will only continue to grow.
Are you surprised Disney is beating Netflix at its own game, or were you expecting this?