The Walt Disney Company has announced that Disney+ now has 221 million total subscriptions across our streaming offerings after adding 14.4 million new subscribers in the nine months to end-June 2022.
“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,” said Bob Chapek, CEO, The Walt Disney Company.
Most of Disney+ growth for the quarter occurred outside of the United States and Canada, where the service added 100,000 subscribers to reach 44.5 million. The company reports that international Disney+ subscribers increased by 6 million to reach 49.2 million. In addition, Disney+ Hotstar, which is available in India and Southeast Asia, added 8.3 million subscribers to reach 58.4 million.
The Walt Disney Company added that the Direct-to-Consumer revenues for the quarter increased 19% to $5.1 billion and operating loss increased $0.8 billion to $1.1 billion. The increase in operating loss was due to a higher loss at Disney+, lower operating income at Hulu and, to a lesser extent, a higher loss at ESPN+.
“Lower results at Disney+ reflected higher programming and production, technology and marketing costs, partially offset by increases in subscription revenue and, to a lesser extent, advertising revenue.”
The average monthly revenue per paid subscriber for international Disney+ (excluding Disney+ Hotstar) increased from $5.52 to $6.31 due to increases in retail pricing, partially offset by an unfavourable foreign exchange impact and a higher mix of wholesale subscribers.
Also read: Netflix Loses Close To A Million Subscribers
Global streaming service Netflix announced today a loss of 970 000 subscribers in the three months ending June 2022. The company said Q2 was better-than-expected in membership growth.
Netflix said it had a total of 221 million subscribers and predicted to add one million new subscribers in the third quarter of 2022 compared to 4.4 million in the year-ago quarter.
“Our challenge and opportunity is to accelerate our revenue and membership growth by continuing to improve our product, content, and marketing as we’ve done for the last 25 years, and to better monetize our big audience,” Netflix informed investors.
“We’re in a position of strength given our $30 billion-plus in revenue, $6 billion in operating profit last year, growing free cash flow and a strong balance sheet.”
“We’re in the early stages of working to monetize the 100m+ households that are currently enjoying, but not directly paying for, Netflix. We know this will be a change for our members,” Netflix announced in a letter to shareholders.
