Disney+ reaches 164.2M subscribers because it prepares for ad-supported tier launch

Disney informed of Today’s results for the final quarter of its 2022 fiscal year reveal a total of 164.2 million Disney+ International subscribers, an increase of 1.2 million subscribers from 152.1 million in Q3. The flagship streaming service was totally expected to get 9.35 million subscriptions.

Among Disney’s streaming companies, Disney+, Hulu and ESPN+, it had a total of 235.7 million subscribers, up from 221 million full subscribers in the third quarter. The firm beat the expectations of 233.8 million.

“2022 was a strong year for Disney, with some of our best storytelling… and outstanding customer growth in our direct-to-consumer services, which added nearly 57 million subscriptions this year for a total of more than 235 million,” said Bob Mentioned Chapek, chief executive officer, The Walt Disney Company, in a letter to shareholders.

Despite Netflix reaching 223.09 million international subscribers in the third quarter, the firm overtook rival Netflix for the second time.

Disney already slashed its 2024 operations for Disney+ customers worldwide to between 215 million and 245 million in the full last quarter. The prior target was between 230 million and 260 million.

ESPN+ reported 24.3 million subscribers, a slight increase from 22.8 million. Hulu only gained 1 million subscribers, bringing the new total from 46.2 million to 47.2 million.

However, the company was missing expectations for full earnings, which were reported to be $20.15 billion. Wall Street estimates Disney will see a 15% year-on-year jump in earnings to $21.3 billion. The direct-to-consumer division lost $1.5 billion.

“We expect our DTC operating losses to reduce going forward and that Disney+ will still achieve profitability in fiscal 2024, assuming we do not see a meaningful change in the economic environment,” Chapek said.

As the company seemed like additional ways to earn income, Disney raised subscription fees for Disney+, Hulu, Hulu Live TV bundles, and ESPN+ plans. Disney+ may be set to launch a less expensive ad-supported model on December 8, a month after Netflix introduced an ad-free plan.

Earlier this month, Disney+ tested a unique merchant store for customers, which could be another source of income for the company. Select Test permits Disney+ subscribers in the US to purchase unique merchandise and gain early access to merchandise from makers such as Star Wars, Marvel, Disney Animation Studios and Pixar.

Meanwhile, the company is exploring ways to interact with Disney+ customers and acquire new audiences. For the occasion, Disney+ recently became the unique worldwide residency for new episodes of “Doctor Who” in more than 150 markets, including the US. x Home subscribers, keeping in mind the earnings launch of the moment.

The streamer also experimented with augmented reality in September, launching its first AR app that connects to content on the Disney+ platform. “Remembering” stars “Captain Marvel” Brie Larson and includes a companion AR app that iOS customers can get to see the expansion of the movie in an instant on the small screen. We anticipate that the company will sooner or later introduce additional AR-enabled options to differentiate itself from the rivals.

More to come back…

Source link

Share your love

Leave a Reply

Your email address will not be published. Required fields are marked *