Why Disney+ Will Drive Disney’s Growth Beyond the Coronavirus Crisis

As Walt Disney (NYSE: DIS) prepares to reopen more of its theme parks, the company is on its way to recovering some of that revenue -- although with the restrictions on normal operations, Disney is unlikely to see much growth there until the coronavirus crisis has passed.

But there still may be some magic left for the company in these times of crisis and beyond. I'm talking about Disney+. Launched in the U.S. in November, the streaming service had already garnered 54.5 million subscribers as of May 4. The company had said it expected Disney+ to achieve profitability in 2024, and it set a goal of 60 million to 90 million subscribers by that time. Now, after only about six months, Disney+ has almost reached the lower end of that range.

To further put that growth into context, streaming leader Netflix, which launched its service in 2007, has 183 million paid memberships worldwide.

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Source Fool.com