Disney will invest $1 billion in original content into Disney+, it’s upcoming streaming service, in 2020, said CFO Christine McCarthy on Thursday.
That number will raise to “mid $2 billion” by 2024, the same year they expect to achieve profitability. Disney formally unveiled Disney+ during an investor event at its Burbank, California studios. The service will launch on Nov. 12 and cost $6.99 a month and $69.99 a year.
McCarthy added they expect to have anywhere between 60 and 90 million subscribers by 2024, with two-thirds of them coming outside the U.S. Disney+ will begin rolling out to other markets beginning next year.