“Since its launch, Disney+ has been able to grow quickly by using a low price point and leveraging a vast library of content,” said Eric Haggstrom, eMarketer forecasting analyst at Insider Intelligence. “Bundled offerings with Hulu and ESPN+, as well as distribution deals with Verizon, have enabled it to grow new subscriptions quickly and reduce subscriber churn.”
The service will experience double-digit growth each year through the end of our forecast period. By 2024, Disney+ viewers in the US will surpass Hulu’s viewers—123.4 million vs. 115.6 million, respectively.
“Disney+ has seen rapid audience growth and has partially benefitted from lockdowns and stay-at-home orders,” Haggstrom said. “However, while COVID-19 has helped drive adoption of the service, movie and TV production shutdowns could act as roadblocks. It will be difficult for Disney+ to continue growing viewership in 2021 with a light batch of new releases.”
In 2020, 225.4 million viewers will use a streaming service at least once per month, up from the 221.9 million viewers we had previously expected back in Q1. This figure will grow to 237.1 million in 2024.