Disney continues to show it’s the streaming service to beat.
As reported by TechCrunch, the company announced its financial results for the fourth quarter of 2022. It revealed that it now has 164.2 million Disney Plus subscribers globally, an increase of twelve million subscriptions compared to the 152.1 million it had in the third quarter of the year. According to Wall Street, the service was only expected to grow by about nine million subscribers, so the company smashed its expectations.
Bob Chapek, Chief Executive Officer of The Walt Disney Company, said that, between Disney Plus, Hulu, and ESPN Plus, the company now has more than 235 million subscribers across its streaming services:
“2022 was a strong year for Disney, with some of our best storytelling yet… and outstanding subscriber growth at our direct-to-consumer services, which added nearly 57 million subscriptions this year for a total of more than 235 million,” said Bob Chapek, chief executive officer, The Walt Disney Company, in the letter to shareholders.
While Disney Plus has been unprofitable so far, Chapek added that “we expect our DTC operating losses to narrow going forward and that Disney+ will still achieve profitability in fiscal 2024, assuming we do not see a meaningful shift in the economic climate.”
With more than 235 million subscribers, Disney has once again surpassed Netflix in the total number of subscribers (if you count Disney Plus, Hulu, and ESPN). Netflix, with its one streaming service, reached 223 million subscribers in the third quarter of 2023.
The news comes about a month before Disney Plus launches its ad-supported tier. The ad-supported Disney Plus plan will be available to customers in the United States on December 8th. Instead of $10.99 per month, the new plan will come in at $7.99 per month, saving you $3 per month to put up with some advertising.
