The noose is tightening around Netflix. The Disney+ platform attracted 14.4 million new subscribers between March and June 2022, bringing its total to 152 million and reassuring a market worried about the risks of saturation of digital services, according to a press release published on Wednesday August 10.
221 million subscribers
In all, Disney’s streaming platforms (namely Disney+, Hulu and ESPN+ for sports) now have 221 million subscribers. That’s 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. It concerns, for the moment, the United States and will be offered from December at 8 dollars per month. The one without ads will increase to 11 dollars, or 3 dollars increase.
70% higher turnover
Disney saw its revenue increase 26% year-on-year to $21.5 billion for the third quarter of its staggered fiscal year. Its amusement parks and merchandise have reaped the full benefits 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.
“Disney’s core businesses, including theme parks and movie theaters, are rebounding but still facing headwinds, including the unusually lukewarm reception of Pixar’s latest cartoon, Lightyear“, noted Paul Verna of Insider Intelligence.