Walt Disney (DIS) expects its streaming service, Disney+, to win 60 million–90 million subscribers by fiscal 2024 (ending in September). The company anticipates Hulu to attract 40 million–60 million subscribers by 2024, and ESPN+ to have 8 million–12 million subscribers.
The streaming war between Disney+ and Netflix
Morgan Stanley analyst Benjamin Swinburne forecasts Disney+ will bring in 130 million global subscribers by 2024 from its three digital video platforms, Disney+, ESPN+, and Hulu, in which it has a majority stake. He believes the Disney brand’s widespread popularity could help it outpace Netflix, especially in US markets, where Netflix is facing sluggish subscriber growth. Swinburne estimates consumers are ready to spend $15 billion–$20 billion per year to watch Disney-branded programming.
On the other hand, Wolfe Research managing director Marci Ryvicker expects Netflix to attract ~300 million subscribers by 2024, doubling its current base. Disney plans to invest ~$1 billion in original programming in fiscal 2020 and ~$2 billion by fiscal 2024, trailing Netflix’s spending of ~$8 billion on original programming in 2018.