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Disney+ reportedly gained 10 million subscribers in its first 24 hours following its Tuesday launch. But are people already looking to cancel the streamer?
Recent Google Trends analysis suggests that many Disney+ users are seeking to opt out of their subscriptions, possibly due to a lack of new adult-centered entertainment.
In a recent Q&A with Barron’s, LightShed Partners analyst Rich Greenfield said the launch “illustrated the power of the Disney brand,” while demonstrating “pent-up demand for the product.” He also considered the issue of subscriber churn.
“Can Disney Plus hold onto the huge number of early subscribers and continue to add new subscribers?” Greenfield asked in a blog post on Friday. “Data from Google Trends comparing Disney Plus to Netflix should temper investor excitement over day one Disney+ subscribers and reinforces our belief that Netflix will be largely unaffected by the launch.”
In the post, Greenfield says he simply searched for the phrases “Cancel Disney Plus” and “Cancel Netflix” in Google Trends. His findings surprised him.
“While Netflix has picked up in recent days, it is still below historic highs over the past two years, while Disney Plus is soaring at 4x Netflix levels, despite having a fraction of Netflix’s U.S. installed base,” he wrote.
Greenfield cited the notable lack of adult content as potential cause for the Disney+ subscriber exodus, saying, “There is not much to do (on Disney+) unless you love watching old movies.” He also noted that Apple TV+ has more adult content than Disney+. “We wonder whether new users without young kids will churn at a high rate until the content offering expands,” he continued.
Until more original content makes its way onto Disney+, subscribers can occupy themselves with entries from the Marvel Cinematic Universe and the Star Wars world, along with Disney’s massive vault of classic movies. Its $6.99 monthly price makes the streamer an attractive, low-cost addition to cord cutters’ streaming arsenal.
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Kahron Spearman is a music and film critic whose work can also regularly be regularly found in the Austin Chronicle.