Disney+ is quickly becoming one of the biggest streaming services on the market, and the output of movies and TV shows will back that up. Disney has revealed that they intend to release 100 new titles on the service per year. This comes as the service has topped 100 million subscribers worldwide, a truly massive number that was achieved in a relatively short time frame.
Disney recently held its annual shareholder meeting. During the meeting, it was confirmed that the streaming service now has amassed 100 million subscribers worldwide. That number was reached in a mere 16 months, with Disney+ initially launching in November 2019. In a press release, Disney CEO Bob Chapek explained that they are going to invest heavily in original programming as a result.
"The enormous success of Disney+, which has now surpassed 100 million 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+ 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."
Franchises such as Star Wars, with The Mandalorian, and Marvel, with WandaVision, have anchored the service thus far. Disney already revealed late last year that they intend to release no less than ten Marvel and Star Wars TV shows over the next few years. So there will be plenty more to come from the pillars of the Disney empire when it comes to these 100 titles per year.
Disney+ came about just months before Hollywood was rocked to its core. Movie theaters were shut down around the world and people were forced to stay home. That led to a boom for streaming services. Consequently, Disney reorganized its entire media business to prioritize streaming. While movies like Black Widow and other presumed blockbusters will still get exclusive theatrical releases, that will be determined on a case-by-case basis.
The future of the media landscape is streaming and Disney is embracing that with open arms. That was a big reason for the $71.3 billion acquisition of Fox. Disney is exploiting the studio's library to craft movies and TV shows, largely for its streaming services. Disney also controls Hulu and ESPN+, as well as the recently launched Star, which is available internationally outside of the U.S.
This year will see the release of major titles such as The Falcon and the Winter Soldier, Loki, The Book of Boba Fett, Monsters at Work, Turner and Hooch and many more. Recently, Raya and the Last Dragon, which had been envisioned as an exclusive theatrical release, arrived on Disney+ through Premier Access, which allowed subscribers to watch the movie for an additional $30. The studio had previously tested the strategy with Mulan. Other movies are expected to follow this same path in the future. This news comes to us directly from The Walt Disney Company.