The Walt Disney Company has revealed the next steps in its global streaming expansion at its 2020 Investor Day, with new details on the future of its direct-to-consumer services Disney+, Hulu and ESPN+, and a first look at its upcoming international general entertainment content brand, Star.
Bob Chapek, chief executive officer, The Walt Disney Company, and Bob Iger, executive chairman and chairman of the board, led the virtual event, which included presentations from leaders of the company’s content and distribution teams, along with financial updates from Christine McCarthy, senior executive vice president and chief financial officer, and Lowell Singer, senior vice president, investor relations.
“The tremendous success we’ve achieved across our unique portfolio of streaming services, with more than 137 million subscriptions worldwide, has bolstered our confidence in our acceleration toward a DTC-first business model,” said Chapek.
During the Investor Day presentation, the company announced that, as of December 2, its portfolio of direct-to-consumer services has exceeded a total of 137 million global paid subscriptions. The company shared guidance that it now expects its streaming services to hit 300–350 million total subscriptions by fiscal 2024, driven by a significant increase in content output. Disney+ alone is targeting to release more than 100 titles per year.
Building on the successful launch of Disney+ Hotstar in India and Indonesia, Disney shared new details for its international general entertainment content brand, Star, which will be included as part of Disney+ in select international markets, and launch as a separate streaming service in Latin America as Star+.
Star will launch in Europe and several international markets including Australia, New Zealand, and Canada in February 2021 as a fully integrated part of Disney+, with its own branded tile. The streaming service will continue its global rollout, beginning with Singapore in February 2021, followed by Eastern Europe, Hong Kong, Japan, and South Korea later in 2021.