Disney + surpasses Netflix in subscribers of its streaming platforms

First modification: 08/11/2022 – 18:08

In 2017, the entertainment multinational Disney staked its future on building a streaming service to compete with Netflix as audiences shifted to online viewing from traditional cable television.

Five years later, with a broad portfolio that includes the international Disney +, the American Hulu and the sports ESPN +, Disney surpassed its main competitor in number of subscribers for the first time.

In the quarter ended in June, Disney added 14.4 million Disney + customers to 152.1 million, while in its entire group it reaches 221.1 million, just above the 220.7 million that Netflix claims to have .

U.S. price hike looming

Disney’s growth in the streaming market contrasts with the situation of its main competitor Netflix, which has lost customers for two quarters and is considering measures such as charging extra for sharing accounts or introducing advertising in the cheapest subscription.

Even so, Walt Disney announced that it will launch an ad-supported Disney+ option this December in the United States. In this way, the service with ads will cost $7.99 per month, the same price that the company now charges for the version without ads, which will now be worth $10.99 as of December 8.

Prices for Hulu, also owned by Disney, will increase by $1 to $2 per month, depending on the plan. Meanwhile, Netflix’s most popular streaming plan in the US now costs $15.5 per month and its premium plan is $20 per month.

Rising Disney streaming sales, combined with a recovering theme park business after pandemic shutdowns, led the California-based entertainment giant to beat Wall Street expectations with its quarterly earnings.

The company reported revenue of $21.5 billion in the three months ended July 2, up 26% from the same period last year.

With EFE, AP and Reuters