Disney+: 14 million additional subscribers in the first quarter of 2022, the platform’s very good figures

Disney+ continues to grow. After a 33% increase in subscribers over one year, between September and April, the streaming platform attracted 14.4 million new subscribers between March and June, bringing its total to 152 million. In all, Disney’s streaming platforms (Disney+, Hulu and ESPN+ for sports) now have 221 million subscribers, more than Netflix, the industry veteran which saw its number of paid subscribers drop to 220.67 million at the end of June.

The entertainment giant, which took more than 6% on the stock market during electronic trading after the close, also unveiled a new cheaper Disney + subscription formula, with advertising, according to a press release also published on Wednesday. In total, Disney saw its revenue increase by 26% year on year, to 21.5 billion dollars for the third quarter of its staggered fiscal year, while its net profit increased by half year on year, to 1 .4 billion dollars.

A platform not yet profitable

In addition to its streaming platforms, Disney theme parks and merchandise have taken full advantage of the resumption of in-person activities as the pandemic loosens its grip on daily life around the world. The segment generated $7.4 billion in revenue, 70% more than a year ago. Launched at the end of 2019, Disney+ now captures more than 45% of American streaming service users, behind YouTube, Netflix, Amazon and Hulu (which is owned by Disney), according to figures from Insider Intelligence.

If the streaming segment has been very successful since its launch, the group’s massive investments are still far from paying off. Thus, during the past quarter, the three Disney streaming platforms widened their net losses by 300 million, to 1.1 billion dollars. “We remain confident that Disney+ will achieve profitability in 2024,” said Christine McCarthy, Chief Financial Officer, although lowering certain targets.

Between 215 and 245 million subscribers in 2024

The production giant forecasts 215 to 245 million subscribers for Disney+ in 2024 (including those of Hotstar, the Indian version of the site), 15 million less than previously announced. To achieve its objectives in the current quarter, Disney is counting on new programs such as “She-Hulk: Avocate”, the new series from Marvel Studios, “Andor”, a Star Wars series, and the film “Hocus Pocus 2” from Disney, while a documentary series on BTS, the cult K-pop group, is planned.

For its part, Netflix lost nearly a million subscribers between March and June, after having already lost some in the first quarter, for the first time in its history. Beyond new content, the industry veteran and its fierce competitor are now using different strategies to increase their subscriber base and improve their profitability, such as a new formula including advertising. Netflix also plans to tighten the screw on the side of shared identifiers.

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