The Walt Disney Company announced its third-quarter results on Wednesday, revealing that its Disney+ streaming platform added 14.4 million customers in the fiscal quarter, bringing the total to 152.1 million. When the numbers from Hulu and ESPN+ are added together, Disney appears to have surpassed Netflix, which had 220.7 million subscribers as of July.
In his investor presentation, Disney CEO Bob Chapek stated, ‘We had an excellent quarter, with our world-class creative and business teams powering outstanding performance at our domestic theme parks, big increases in live-sports viewership, and significant subscriber growth at our streaming services. With 14.4 million Disney+ subscribers added in the fiscal third quarter, we now have 221 million total subscriptions across our streaming offerings,’ said Disney’s CEO. It is worth noting that during this quarter, Walt Disney took an audacious risk by launching the streaming platform in 40 countries across Europe, Africa, and Western Asia.
The figures defy analyst predictions;
Several forecasts predicted that Disney+ would lose paying customers as a result of losing the lucrative Indian Premier League (IPL) streaming rights to Viacom 18 earlier this year. In India and several other Asian markets, Disney+ is known as Disney+ Hotstar, and according to data released on Wednesday, the total number of subscribers from the region stood at 58.4 million, comfortably exceeding the combined 44.5 million subscribers in the United States and Canada.
Furthermore, Disney’s revenue stood at $21.5 billion at the end of Q3, exceeding most estimates of $20.68 billion. Disney recently announced the Phase 5 slate of Marvel movies and TV shows. Additionally, shows like The Mandalorian, Loki, Obi-Wan Kenobi, Moon Knight, and others have helped the platform gain new subscribers.
In terms of introducing new storylines, Bob concluded, ‘We continue to transform entertainment as we near our second century, with compelling new storytelling across our many platforms and unique immersive physical experiences that exceed guest expectations, all of which are reflected in our strong operating results this quarter’.
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