Disney Plus Ends 2021 With Nearly 130 Million Subscribers, Smashing Growth Forecasts
10.02.2022 - 00:47
/ variety.com
Disney Plus powered to a strong year-end finish, with the media giant’s flagship streaming business blowing past expectations to hit almost 130 million users.At the end of 2021, Disney Plus had 129.8 million paying customers worldwide, gaining 11.8 million for the quarter ended Jan. 1, 2022.
Analysts on average had forecast net adds of 7.3 million for the period, per FactSet.The strong year-end streaming results came after the Mouse House missed subscriber targets the prior quarter. For the full year 2021, Disney Plus’ subscriber base grew 37%, up from 94.9 million a year prior.Click here to sign up for Variety’s free Strictly Business newsletter covering earnings, financial news, and more. Overall, Disney reported revenue of $21.82 billion and adjusted earnings per share of $1.06 cents for the period, the company’s first quarter of fiscal 2022.
That handily beat analyst consensus estimates of $18.36 billion in revenue and EPS of 61 cents and sent the company’s shares soaring. Disney stock was up nearly 10% in after-hours trading on the beat.For the first time, Disney broke out Disney Plus numbers by region: In the U.S. and Canada, the streamer had 42.9 million customers (up 18%); internationally excluding Disney Plus Hotstar, it had 41.1 million (up 40%); and Disney Plus Hotstar had 45.9 million (up 57%).
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