Disney+ , the digital broadcasting platform that started its activities in our country in mid-June, announced its last quarter earnings. According to the information shared by the company, Disney+ exceeded the expectations of 10 million by adding 14.4 million subscribers. Along with this, the total number of Disney+ subscribers reached 152.1 million .
The company also announced that it has cut its 2024 forecast for Disney+ to 215 to 245 million subscribers. The company’s previous goal was to gain between 230 and 260 million subscribers, but Disney has slightly lowered its targets at both the high and low end. The company reiterated its expectation that Disney+ will become profitable by the end of fiscal 2024.
The company reported that international Disney+ subscribers increased by 6 million to 49.2 million. In other words, most of the subscriptions came from outside the USA and Canada. However, Disney has announced that it has increased the price of an ad-free Disney+ subscription in the US from the current $7.99 to $10.99 per month starting December 8th.
Disney lowered its Disney+ estimate as it failed to renew the Indian Premier League rights for the Disney+ Hotstar streaming service. Disney+ subscribers, excluding Hotstar, should be between 135 million and 165 million by the end of 2024, said Christine McCarthy , Disney’s chief financial officer. It was stated that the maximum number for Hotstar subscribers is 80 million.
At the end of the last quarter, Hulu has 46.2 million subscribers and ESPN+ has 22.8 million subscribers. These numbers bring Disney’s streaming service subscriptions to a total of 221.1 million. This is where the interesting part begins, as this total means that the company’s total streaming services surpass Netflix in total subscribers. Netflix announced that it had a total of 220.67 million subscribers globally in its third quarter, after losing almost 970 thousand subscribers. In other words, Disney seems to take the throne of Netflix, which has been the market leader for a long time.