Disney+ has surpassed 100 million global paid subscribers in just 16 months since its launch, it was announced Thursday by Disney CEO Bob Chapek.

“The enormous success of Disney+ -- which has now surpassed 100 million subscribers --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. “In fact, we set a target of 100+ new titles per year, and this includes Disney Animation, Disney Live Action, Marvel, Star Wars, and National Geographic. Our direct-to-consumer business is the company’s top priority, and our robust pipeline of content will continue to fuel its growth.”

Disney+ launched in the U.S. on Nov. 12, 2019, and has rolled out rapidly across Canada, Australia, New Zealand, Europe, Latin America, and most recently, Singapore. The service is now available in 59 countries around the world.

disney-plus-100-million-subscribers
Image via Disney+

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While shows like The Mandalorian and WandaVision are certainly helping to drive subscriber growth, the fact is that Disney's vast library of animated classics has made its streaming service a must-have for families, especially with children cooped up inside due to the pandemic.

Disney+ still has plenty of work to do if it wants to catch its streaming rivals Netflix and Amazon Prime Video, but both of those services have been around far longer, and they're also more expensive. As such, Disney+ is a great bargain at the moment, and you're practically guaranteed to get the best bang for your buck thanks to upcoming Marvel series such as The Falcon and the Winter Soldier and Loki, as well as new Star Wars shows including Andor and The Bad Batch.

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