In the fiscal quarter ending April 2, Disney+ added 7.9 million new subscribers to its streaming service, bringing the total number of paying customers in the United States and Canada to 44.4 million. Netflix reported a 200,000-subscriber loss in its most recent earnings report.
Despite the loss, Netflix still has a significant lead over the competition, with approximately 222 million paying customers on its books. The company expects to lose a couple million more subscribers in the current quarter, but it will still be far ahead of the competition. FOR EXAMPLE, global HBO Max and HBO subscribers totaled 76.8 million at the end of the previous quarter.
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Disney+ now has 137.7 million subscribers worldwide, a 33 percent increase year over year. ESPN+ and Hulu, two of Disney’s major streaming platforms, increased their subscriber bases to 22.3 million and 45.6 million. Disney’s DTC services now have over 205 million subscribers combined.
Even after spending $1 billion to terminate a licensing agreement with a client early and move the content to its service, Disney increased revenue by 23%. Disney did not specify the nature of the agreement, but both Variety and The Hollywood Reporter believe it was with Netflix.
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Despite the growth, Disney fell short of Wall Street’s expectations. Analysts predicted $20.05 billion in revenue, but Disney only made $19.25 billion. Adjusted earnings per share were $1.08, less than the $1.19 predicted by Wall Street.