Disney + Now Chasing Netflix’s Coattails

With the exciting news this week that Disney+ subscribers have passed the 100 million subscriber mark, one thing is abundantly clear to the BLAKE & WANG P.A Entertainment attorney Los Angeles team. Disney is hoping to topple Netflix from its lofty position as the world's number 1 streamer. Will it be successful? Only time will tell.

Disney’s Annual Shareholder Meeting

This was reported last Tuesday at the Disney annual shareholder’s meeting- which was, in a global first for the company, held virtually. This indicates they’ve pushed past their mid-February checkpoint of 94.9 million subscribers with unprecedented speed. Disney, naturally, is happy to look even more ambitiously at the competition. Even further focused investment has been promised, despite the already lofty reformat around a streaming model the company underwent at the end of last year. In fact, direct-to-consumer was stated to be their ‘top priority’ currently, and it shows no sign of changing soon. The target has been set at 100+ new titles per year, across their Live Action and Animation categories as well as National Geographic, Marvel, and the Star Wars franchises. Subscriber numbers of 250 million by 2024 are now being thrown around with confidence. If growth continues as we’ve seen, they should make it with subscribers to spare.

Following Up On Investor Day Promises

We were, indeed, shown well over 100 new products set for a 2021 release back at Investor Day in December, most earmarked for the streaming service. They did, however, give a strong nod to the importance of the theatrical industry, too, and have pledged to support their reopening. The streaming giant certainly has come far since its timeous November 2019 unveiling, with a recent expansion into Singapore increasing their market even further. 2020 would, in fact, prove to be one of the most transformational years the company has seen- and possibly the most triumphant, especially with Disney+ now closing in fast on Netflix’s default Number 1 streamer position. Despite the heavy streaming market competition, nothing touches Disney’s success over an incredibly tumultuous time for the entertainment industry. This, in turn, has helped significantly buoy the brand against the global pandemic that saw its theme parks shuttered, productions halted in their tracks, and kept theatrical releases to a miserable minimum. It’s certainly a lesson in what luck, adaptability and canny planning can do for you! What damage their share price took during the tumultuous year was swiftly reversed after their deft digital revolution was announced. With the recent vaccine rollout promising to allow a mass-scale reopening across their theme parks and the theatrical industry both, Disney’s certainly riding a wave of enthusiasm and positivity that will doubtless continue to pad out their bottom line in investor-pleasing ways. Will the Disney Magic touch keep boosting them higher and higher? It certainly seems so, if this latest announcement is anything to go by. As always, BLAKE & WANG P.A one of the top entertainment law firms Los Angeles will make sure you have all the entertainment knowledge you need to keep your own business buoyant.