Disney+ Caps a Year of Incredible Growth
On Nov. 12, 2019, Walt Disney (NYSE: DIS) launched Disney+: its biggest bet on the subscription video-on-demand (SVOD) market. The House of Mouse anticipated that it would take a while to scale up its flagship streaming service. In April 2019, management set a goal of growing the Disney+ user base to between 60 million and 90 million subscribers by fiscal 2024 and reaching profitability at that time.
The rising appeal of SVOD services and the COVID-19 pandemic have allowed Disney to crush those targets. On Thursday -- exactly one year after Disney+ launched -- the company provided another bullish update on its Netflix (NASDAQ: NFLX) competitor. The rapid growth of Disney+ could drive huge share price appreciation for Walt Disney over the next decade.
Image source: The Walt Disney Company.
Source Fool.com
