New York (CNN) Disney+, the focal point of Disney's media empire, has achieved a significant milestone. The streaming service has surpassed 100 million global subscribers in just 16 months, Disney CEO Bob Chapek announced at the company's annual shareholders meeting, which was held virtually on Tuesday. "The enormous success of Disney+... has inspired us to be even more ambitious, and to significantly increase our investment in the development of high-quality content," Chapek said in a statement. It's a big accomplishment for the House of Mouse. Disney, one of the largest and most established media companies, pivoted its entire business to streaming — a move that has helped keep the company afloat through a pandemic that hobbled multiple parts of its business, forcing it to shutter parks and resorts and delay major blockbusters.

Source: The Nation March 09, 2021 20:48 UTC