Disney announced Thursday the company expects ESPN+ to reach between 8 to 12 million paying subscribers by 2024.
The projection announcement was made during a presentation by Disney on Wall Street detailing its digital strategy in the future as Disney+ is set to launch in November 2019.
Though the 12 million number may seem daunting at first glance, it may not be out of the realm of possibility as Disney is expected to make bundle subscriptions of Hulu, ESPN+ and Disney+ available. Hulu has more than 25 million subscribers as of January and ESPN+ has reached 2 million as of February after launching just last April.
With the continuous success of Hulu and expected success of Disney+, fans on the fence of joining ESPN+ may have more incentive to subscribe and help Disney reach its 2024 projection.
Financially, ESPN+ has yet to turn a profit, and likely won’t until some time around 2023, Disney chief financial officer Christine McCarthy said at the presentation. She added that between the 2019 and 2020 fiscal years ESPN+ is expected to lose $650 million.
Projection analysts have a more modest outlook than Disney, naturally. According to Reuters, Morgan Stanley and Citi project ESPN+ to reach 4 million subscribers in 2020 while MoffettNathanson doesn’t see the platform reaching that number until 2022.