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Disney+ subscriber count beats Wall Street’s expectations with 137.7 million

Disney+ subscriber count beats Wall Street's expectations with 137.7 million

In a move that will surely have competitor Netflix sweating it out, The Walt Disney Company has announced that they added 7.9 million subscribers to Disney+ in the first quarter of 2022 and resulted in a total of 205 million across all of their pay-streaming platforms. There are more than one subscription. Disney+, Hulu, ESPN+, etc.). According to a press release the company’s revenue increased by 23%. Announcing their quarterly earnings earlier this year, Netflix revealed they’ve lost some 200k subscribers, which was a huge flip after previously forecasting an additional 2.5 million for the quarter (a big part of their shortfall). was due to cease operations in Russia).

“Our strong results in the second quarter, which included great performance at our home parks and continued growth of our streaming services – added 7.9 million Disney+ subscribers in the quarter and total subscriptions across all of our DTC offerings exceeded 205 million – a proved once again that we are in a league of our own,” said Bob Chapek, chief executive officer of The Walt Disney Company. Will continue to transform entertainment by combining extraordinary storytelling with innovative technology to create an even bigger, more connected and magical Disney universe for U.S. families and fans.”

The Walt Disney Company’s press release shows the US and Canada have 44.4 million subscribers, up 19% from a year ago; While Disney+’s international subscribers (in markets that do not have Disney+ Hotstar) increased 39% from 31.1 million subscribers to 43.2 million. Disney+ Hotstar subscriber base grew 42% year over year from 35.2 million to over 50 million. In total, Disney+ has 137.7 million subscribers worldwide.

“The development of the platform since launch reinforces its unique nature,” Chapek said during the company’s quarterly call. “Quite simply, we believe Disney+ is one of a kind. A service based on exceptionally branded content with broad appeal across all four categories is certainly popular with families. But as a reminder Of course, nearly half of Disney+’s customers are adults without children. Their unique ability to attract audiences from a range of Disney+ demographic groups was what was selectively increasing Disney+, driving signups among specific audiences and increasing the number of people within those groups. With general entertainment titles designed to deepen engagement. One advantage of our incredible creative engine and decades of general entertainment excellence is that we can reach these demographics not only through the creation of original titles, but our content. can also be achieved by shifting resources out of the ecosystem, especially as consumer behavior is evolving.”

Disney revealed that despite their direct-to-consumer brands’ revenue growing 23% to $4.9 billion, operating losses also increased, from $600 million to $900 million. He attributed this to “higher losses at Disney+ and ESPN+ and lower operating income at Hulu”, noting that Disney+’s losses were “higher programming and production, marketing and technology costs, partly from increased subscription revenues”. offset from”.

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Reference from comicbook.com

Drashti Jain