Disney + reaches 118.1 million subscribers in two years as growth slows

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Disney + recorded 118.1 million subscribers during the third quarter of 2021, Disney said in a earnings report on Wednesday, and the results represent the slowest consecutive growth for the streaming service since its launch in 2019.

The number of subscribers of 118.1 million was recorded on October 2, which is about 2.1 million more than in the previous quarter, Disney said in its statement on earnings (PDF link).

Disney CEO Bob Chapek in September warned of a slowdown in growth due to COVID-19 and set expectations of an increase in “low single-digit millions” from the previous three months. Despite the announcement, Wall Street analysts said Disney + was 126.2 million in the last quarter, reports Diversity.

Disney’s streaming service has experienced tremendous success since launching in November 2019, and the number of subscribers has grown to 100 million in just 16 months. Today’s published result suggests that momentum could slow down.

Average monthly revenue per paid user fell to $ 4.16, from $ 4.62 in the quarter a year earlier. The change was partly attributed to a larger combination of Disney + Hotstar subscribers.

“As we celebrate the two-year anniversary of Disney +, we are extremely pleased with the success of our streaming business, with 179 million total subscriptions in our DTC portfolio at the end of fiscal 2021 and a 60% increase in subscribers over the previous year. for Disney +, “Chapek said in a prepared statement.” We continue to manage our DTC business in the long term and we are confident that our high-quality entertainment and expansion into additional markets around the world will enable us to further develop our streaming platforms globally. “

As Diversity notes, Disney wants to increase the number of subscribers by the year-end “Disney Plus Day” promotion that coincides with the product’s second anniversary. The weekly event, which began Monday, includes numerous premieres and a limited offer that brings new and existing customers one month of service for $ 1.99.

In addition to Disney +, Disney recorded growth in all of its other streaming products, from ESPN + to 17.1 million subscribers from 10.3 million in 2020. Hulu grew to 43.8 million from 36.6 million in the same period.

Apple TV +, Apple’s streaming service, was launched at about the same time as Disney +, but did not experience the same level of success. Apple has not released official statistics, but third-party estimates estimate that the service has 40 million subscribers by the end of 2020. A significant portion of those subscribers are on free one-year trials they acquired by purchasing the appropriate device.

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Naveen Kumar

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