Friday, April 10, 2020
Power Of A Brand
Disney has announced it has signed 50 million subscribers to its new streaming channel -- Disney+. It did this in just five months, a time span the company didn't envision. It was planning for a year and to reach 60 to 90 million subscribers by 2024. Even if its growth slows, it will beat the 2024 goal by a year or two. This is the power of the Disney brand, built step by step over 80 years through family-friendly movies and entertainment. By comparison, a new streaming service, Quibi, which was just launched, has 300,000 subscribers and a chorus of negative criticism for its 10-minute movies. There is no fallback for Quibi. It will depend on developing compelling content in order for people to remain subscribers and for more to sign. Disney doesn't have to worry about that. Its catalog of content is deep and powerful and covers a broad demographic from toddlers to adults. One can watch Disney productions for many days and not exhaust what is there. Disney's brand power is its content, and it is hardly surprising that it is succeeding.
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