The group presented its financial results for the second quarter of the year, in which it reached 221.1 million total subscribers for Disney+, Disney+ Hotstar, Hulu and ESPN +, surpassing Netflix and its 220.7 million. In addition, it announced a price increase in the US and the launch of its AVOD version for December 8.
This Wednesday, August 10, Disney revealed its financial results for the second quarter of 2022, celebrating numbers that far exceeded Wall Street expectations.
As the biggest headline in the presentation, Disney now has 221.1 million total subscribers for all its streaming services (Disney+, Disney+ Hotstar, Hulu and ESPN+), putting the group ahead of Netflix and its 220,7 million subscribers.
In this sense, Disney+ added 14.4 million subscribers in the period, reaching 152.1 million at the beginning of July. Most of these additions came from the international market, with the platform adding only 100,000 new clients in the US and Canada, versus 6 million in total in the other markets.
Hulu, meanwhile, gained 600,000 customers in the US to reach 46.2 million, while ESPN+ added 500,000 to reach 22.8 million.
However, despite having surpassed Netflix in number of subscribers, the revenue per subscriber (ARPU) is much lower, with Disney+ generating 39% of Netflx’s revenue per subscriber in the US.
In this regard, Disney announced a price increase for its Disney+ and Hulu services, which will arrive sometime in the fourth quarter of this year.
Additionally, the group has finally announced the release date for its AVOD offering in the US, which will launch on December 8, 2022 and will be available on Disney+, Hulu, ESPN+, and the Disney Bundle.
All in all, Disney reported US$21.5 billion in profit for the quarter ended July 2, up 26% year-over-year and driven by a 70% jump in revenue in the parks, experiences and merchandise segment. Net income increased 53% to US$1.4 billion, translating into adjusted earnings of US$1.09 per share.
