The Walt Disney Company announced last night that its Disney+ streaming service now has over 100 million paid subscribers. The service launched just 16 months ago.

“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,” Disney CEO Bob Chapek said. “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.”

With this milestone, Disney+ is now half the size of Netflix—which reported 200 million subscribers back in January—but is well ahead of most of the industry and is experiencing much more rapid growth.

As you may recall, Disney+ launched in the U.S. in November 2019 and began expanding into Europe just two months later. The service is also available in Canada, Australia, New Zealand, Europe, Latin America, and Singapore.