Disney Plus already has 50 million subscribers around the world, even though it only launched 5 months ago

Shutterstock

• Disney Plus already has 50 million subscribers, the company announced on Wednesday.
• The milestone comes as the company has expanded into new markets in Europe and India, and just after it reported 28.6 million new subscribers in February.
• Disney Plus is particularly important right now as the company's parks and resorts remain closed because of the COVID-19 crisis.
• Visit Business Insider's homepage for more stories.

Disney's popular streaming entertainment service has already hit 50 million subscribers, the company announced on Wednesday. That's roughly double the number of paid subscriptions it added in February.

The milestone comes five months after Disney Plus' November launch in the United States, and just as the service began rolling out in regions such as the United Kingdom, France, Germany, Italy, Spain, Austria, Switzerland, and India. The company noted that even though Disney Plus only became available in India last week, that country already accounts for roughly 8 million of the service's 50 million global subscribers.

Disney Plus still has a ways to go to catch up to Netflix, which had 167 million global subscribers as of January 2020. But it's already surpassed Hulu, the popular streaming service that Disney also controls, which has roughly 30 million subscribers.

Regardless, it's a notable jump from the numbers Disney reported in February, when it said it had gained 28.6 million subscribers. That came in above the 20 to 25 million new subscribers many analysts estimated, as Deadline reported at the time.

The increase to 50 million subscribers suggests Disney Plus is continuing to see healthy growth. The achievement comes as many people are turning to digital entertainment as states across the US and countries around the world have implemented stay-at-home orders in the wake of COVID-19. HBO and Netflix both saw surges in viewership throughout March, The Verge reported.

Disney Plus is especially important for the company right now, as its parks and resorts remain closed until further notice because of the COVID-19 crisis. Disney recently said it would be furloughing some employees whose "jobs aren't necessary at this time." The furlough process will begin on April 19, and workers affected will remain full-time employees with health benefits. Bog Iger, Walt Disney executive chairman, will also give up his entire salary for the year, according to The Hollywood Reporter.

Disclosure: Mathias Döpfner, CEO of Business Insider's parent company, Axel Springer, is a Netflix board member.

NOW WATCH: How social distancing during the COVID-19 pandemic looks from a satellite