https://www.axios.com/2022/08/10/disney-surpasses-netflix-global-paid-subscribers

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2 hours ago - Economy & Business

Disney surpasses Netflix in global paid streaming subscribers

[]Sara FischerSara Fischer

  * Sara Fischer, author of Axios Media Trends

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[yH5BAEAAAA][1660161321]Photo Illustration by Rafael Henrique/SOPA
Images/LightRocket via Getty Images

Disney's stock spiked nearly 4% in after-hours trading Wednesday
after the entertainment giant said it added 14.4 million Disney+
subscribers, blowing past Wall Street expectations.

Why it matters: Disney now has more than 221 million total
subscriptions across all of its subscription streaming offerings
globally, officially surpassing Netflix, which reported 220.7 million
global subscribers last quarter, after losing nearly 1 million
subscribers compared to the previous quarter.

Details: The company also beat expectations for its revenues and
profits, thanks to strong results in its theme parks division.

  * Live sports viewership gains helped give its TV business a boost.

Between the lines: Disney also announced a new pricing structure to
support its new ad-supported tier, which is slated to debut in the
U.S. on December 8th.

  * Moving forward, Disney+ without ads will cost $10.99, up from
    $7.99 monthly and Disney+ with ads will cost $7.99 monthly.
  * The price of Hulu's subscription without ads will also rise from
    $12.99 to $14.99, beginning October 10th. Hulu with ads will
    increase from $6.99 to $7.99.
  * Disney already introduced a price increase for ESPN+ last month.

By the numbers, via CNBC:

  * Earnings per share: $1.09 per share vs. 96 cents expected,
    according to a Refinitiv survey of analysts
  * Revenue: $21.5 billion vs. $20.96 billion expected, according to
    Refinitiv
  * Disney+ total subscriptions: 152.1 million vs 147.76 million
    expected, according to StreetAccount

The big picture: It's been a tumultuous year for streaming companies
that are beginning to see slowed momentum coming out of the pandemic.

  * Amid a brutal market sell-off, Wall Street has put more pressure
    on entertainment companies to begin proving that the business
    economics behind their expensive streaming services are worth it.
  * Disney's streaming losses in particular have widened in the past
    few quarters, Axios' Tim Baysinger reports. Wall Street has in
    the past expressed concern about whether the company's long-term
    streaming strategy is most lucrative to investors.

Go deeper: Disney earnings from past year

  * Q1 2022:  Disney stock slides despite streaming gains
  * Q4 2021: Disney stock rises on earnings beat, subscriber gains
  * Q3 2021: Disney+ subscriber slowdown sends stock sinking
  * Q2 2021: Mixed earnings as pandemic toll lingers

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