Disney Plus celebrates another milestone as of 3rd July the streamer passed 116 million subscribers, adding a huge 12.4 million in quarter 3 alone with Japan seeing a full Disney Plus launch in October.
The streaming numbers beat Wall Street expectations, with Disney+ reaching 116 million subscribers and ESPN+ and Hulu also posting strong gains. Earnings of 80 cents a share were way ahead of estimates and up tenfold from the year-ago quarter. Total revenue rose 45% to $17 billion, reflecting the reopening of many businesses under the tent after a brutal period of Covid shutdowns.
“I feel really great about our subscriber trajectory” on Disney+, Chapek said. He added that he is “really pleased with churn” given recent price increases. In many territories, he said, churn has declined even as prices have increased.
Chapek, who rose through the ranks as a cost-conscious operator of theme parks and home entertainment, said results in each new territory have exceeded internal forecasts. Still, he took pains not to express overconfidence about the future. Disney is now halfway toward its stated goal of 230 million to 260 million Disney+ subscribers by 2024, but there is still a learning curve given the company’s traditional-media roots.
“As we learn, we’ve found out that there is tremendous seasonality to this business,” Chapek said. “Our sub adds aren’t necessarily going to be linear [meaning in a steady line upward]. I think a lot of the marketplace expects these things to sort of be straight-line math and it’s not really turning out that way.”
In addition, there will be a Disney Plus Day on 12th November, celebrating the second anniversary of the streamer, joining the year-long Disney World celebrations taking place in the parks.
Taking a page from Amazon and other tech companies, Disney plans a “Disney+ Day” on November 12, the two-year anniversary of the launch of the service. Chapek said it will be “a balanced approach between global and local product.” New titles like Home Sweet Home Alone will be made available and Jungle Cruise will enter its no-fee window on Disney+. Other programming and incentives to be announced will be aimed at spurring more new sign-ups. “It gives us an opportunity to provide a focal point for consumers who may not have tripped over to Disney+,” Chapek said, giving a shot of “excitement and energy” to the overall streaming effort.
- This Certified Refurbished product is manufacturer refurbished, shows limited or no wear, and includes all original accessories plus a 90-day limited hardware warranty.
- Harrison Ford, Kate Capshaw, Denholm Elliott (Actors)
- English, Italian, French (Subtitles)
- Audience Rating: PG (Parental Guidance Suggested)
