Disney+ Adds Almost 20M Subscribers In Fiscal Q2
11.05.2022 - 23:15
/ deadline.com
Disney delivered spectacular streaming gains, adding nearly 20 million new subscribers to Disney+ in its fiscal second quarter.
Disney+, including the Disney+Hotstar offering in India, reached a global total of 137.7 million subscribers, up from about 118 million in the prior quarter.
Wall Street analysts had expected an addition of 5.2 million subscribers to Disney+.
As the company started focusing its strategy on direct-to-consumer streaming a few years ago, its elite collection of brands and knack for marketing got Disney+ off to a stellar start. It started to flag a bit as it approached two years in the marketplace. More recently, the resounding confidence of investors in Disney’s streaming future has ebbed, with the company’s stock down more than 30% in 2022 to date. It fell another 2% today to close at $105.25, its lowest level in more than two years. A pall has been cast on newer streaming aspirants by Netflix’s recent financial woes, indicating stalled growth and a potentially smaller universe of potential subscribers and iffier profitability outlook.
In late 2020, buoyed by a stellar first year for Disney+ and the success of the bundle with Hulu and ESPN+, the company boosted its targets by the end of fiscal 2024: 300 million to 350 million total streaming subscribers and 230 million to 260 million for Disney+. Whispers have grown louder that those targets are not a sure thing.
The company’s fiscal second quarter, in particular the month of March, saw a significant influx of original programming, including premieres for Cheaper by the Dozen, Marvel series Moon Knight and Pixar’s Turning Red. The charmed run of Encanto also kicked off 2022. Released in theaters for 30 days from Thanksgiving to Christmas Eve, the
The website popstar.one is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can
send a complaint on the news if you find it unreliable.