Disney announced Wednesday that its Disney+ streaming service added 14.4 million subscribers in the April-June fiscal quarter. It has about 221 million total streaming subscribers, slightly ahead of Netflix in the streaming wars.
Netflix gained 220.7 million subscribers in June after losing nearly 1 million subscribers last quarter.
Walt Disney Co. also said on Wednesday that it will raise prices for US streaming subscribers who want to watch Disney+ ad-free.Streaming. "
The price increase is related to Disney's new tiered service launching for US subscribers in December. The basic Disney+ service today costs $7.99 ($10.21 Cdn) per month. Starting in December, its basic service will display ads, so subscribers who don't want ads will have to upgrade to a premium service starting at $10.99 ($14.04 Cdn) per month, 37.5% higher than the current Become. price. The annual plan costs $109.99 ($140.52 Cdn).
It is not clear if subscription prices will change in Canada. In Canada, Disney+ is $11.99/month or $119.99/year.
"Ad demographics are popular and some people want to stay without ads," her chief financial officer, Christine McCarthy, said in a call with analysts. spoke at the conference.
The most popular Netflix streaming plan in the US is currently $15.50 ($19.80 Cdn) per month, with the top plan at $20 ($25.55 Cdn) per month. This follows several rate hikes to help pay for the original show, and since Disney removed the show and classic movies from Netflix after a licensing deal between the companies expired.
Paid subscriptions to Disney+ have increased 31% over the same period last year, according to Disney, with many of them growing internationally. However, revenue growth was not as strong due to operating losses due to "rising programming and production, technology and marketing costs."
Disney Exceeds Earnings Guidance
Disney's Streaming Service Revenue Growth (including Hulu and ESPN+) and Post-Pandemic Park Closures Combined with a business recovery, the Burbank, Calif.-based entertainment giant beat Wall Street expectations in its quarterly results on Wednesday.
Disney reported revenue of US$21.5 billion in the three months to July 2nd, up 26% from the same period last year.
According to Disney, revenue from its Parks, Experiences and Products segment reached $7.39 billion ($9.4 billion), up 70% from $4.34 billion ($5.5 billion) a year earlier. This figure is due to the temporary closure of all Disney parks in 2020, reduced capacity throughout much of 2021, and some locations such as Shanghai Disneyland, which was open for just three days in April. represents a continued recovery from the COVID-19 restrictions that continued to affect June quarter.
