The Disney+ streaming service gained nearly 8 million new subscribers in the last quarter. Thanks to this, Disney’s online platform escapes the contraction suffered by its competitor Netflix due to the end of confinements. This company recently reported its first drop in subscribers since 2011.
Disney+ had 137.7 paying members at the end of the second quarter of its interrupted fiscal year, a third more than the same period last year. All of Disney’s streaming platforms, which also own Hulu and online sports channel ESPN+, had 205 million subscribers combined.
That’s close to Netflix’s roughly 221.6 million subscribers. The market leader in streaming movies and TV series lost 200,000 subscribers in the last quarter. Netflix pointed out that a lot of travel is again possible and therefore home streaming is less popular, but the competition from Disney now also seems great.
Disney+ growth was also weaker than in the previous quarter, partly due to the end of the lockdown. Still, the total number of paid subscribers surprised Wall Street analysts, who had estimated an average of 134.4 million new subscribers.
Disney has also gained a lot from its theatrical movies and theme parks due to the end of shutdowns in the United States, among other things. Sales increased 23% year-on-year to $19.2 billion. The company then generated a net profit of 470 million euros, almost half less than a year earlier due to the increase in taxes. Operating income, which does not yet include taxes, increased by half thanks to the reopening of Disney theme parks.