Disney has forecast that the platform will have 230m to 260m subscribers by 2024.
Disney+ has surpassed 100m global subscribers in just 16 months since its launch.
In a statement, Bob Chapek, CEO of Disney said: “The enormous success of Disney+, which has now surpassed 100m subscribers, has inspired us to be even more ambitious, and to significantly increase our investment in the development of high-quality content. In fact, we set a target of 100-plus new titles per year, and this includes Disney Animation, Disney Live-Action, Marvel, Star Wars, and National Geographic. Our direct-to-consumer business is the company’s top priority, and our robust pipeline of content will continue to fuel its growth.”
The company reached this milestone just a month after Disney told investors it planned to push more heavily into streaming. In October, the company began restructuring its media and entertainment divisions to focus more on Disney+.
Around that time, Disney announced plans for about 100 film and television projects, about 80% of which are set to go directly to Disney+.
Disney+ exceeded the company’s initial subscriber goal of 60m to 90m by 2024 in November, forcing it to reforecast. The company expects Disney+ will have 230m to 260m subscribers by 2024.
The streaming service has seen rapid growth in subscribers since its launch in November 2019. On day one, the company had 10m sign-ups and, by the end of the first quarter, the service had secured 26.5m subscribers.