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discovery+ at 11 million subs

Discovery has reached 11 million subscribers to its recently launched subscription streaming service, discovery+.

The SVOD first launched in the UK in November before a wider rollout to the US in January. Discovery claimed that the streamer launched with the most content of any new streaming service with 55,000 episodes from 2,500 shows from brands like HGTV and Food Network. 

Announcing the company’s first quarterly results since the launch, Discovery CEO and president David Zaslav said that discovery+ had surpassed 11 million total paying subscribers globally and is on course to be at 12 million by the end of February.

The CEO said that this initial success “underscores the value of the investments we’ve made in content, beloved personalities and brands with huge consumer appeal, supported by industry-leading DTC capabilities.”

He added: Our unmatched global scale and ability to serve consumers everywhere with a truly differentiated offering across platforms, as well as our robust cash flows, even amidst the significant investments in our next generation initiatives and the ongoing Covid-19  pandemic, position us to achieve sustainable long-term growth and drive long-term shareholder value.”

Overall, Zaslav said that Discovery finished the 2020 financial year “with strong operating  momentum and great command and control across our global businesses, uniquely positioning us to balance our core and next generation businesses.”

The company ended the quarter with total revenues of US$2.89 billion, which is described as ‘flat’ compared to the same quarter for the previous year. Total 2020 revenues dropped by 4% to US$10.67 billion.