Nothing seems to stand up to the entertainment giant.
The platform war rages on and a new boss dominates the competition. The Disney+ streaming platform attracted 14.4 million new subscribers between March and June, bringing its total to 152 million. These data reassured a market worried about the risks of saturation of digital services.
In all, Disney’s streaming platforms (Disney+, Hulu and ESPN+ for sports) now have 221 million subscribers, more than Netflix, the industry veteran which saw its number of paid subscribers drop to 220.67 million at the end of June.
Advertising, new surprise guest of streaming services
The entertainment giant, which took more than 6% on the stock market during electronic trading after the close, also unveiled a new, cheaper Disney + subscription formula, with advertising, according to a press release also published on Wednesday.
In all, Disney saw its turnover increase by 26% over one year, to 21.5 billion dollars (20.3 billion francs) for the third quarter of its staggered financial year, a figure also higher than the expectations of the analysts. Its net profit increased by half over one year, to 1.4 billion dollars.
” Sigh of relief “
Its amusement parks and merchandise have reaped the full benefits of the resumption of in-person activities as the Covid-19 pandemic loosens its grip on daily life around the world. The segment generated $7.4 billion in revenue, 70% more than a year ago.
” Disney’s stock, like that of many media and tech companies, has taken a beating this year.”, noted Paul Verna of Insider Intelligence. “Its core businesses, including amusement parks and movie theaters, are rebounding, but still face headwinds, including the unusually lukewarm reception of Pixar’s latest cartoon, Lightyear. »added the analyst.
Disney+, on the other hand, never ceases to delight the market. ” Investors will breathe a sigh of relief”, believes Paul Verna. The figures of the platform are going to be seen as a sign of the good health of the market, especially after the lackluster results of Netflix and Comcast”.
Launched in late 2019 as a cannonball on the streaming scene, Disney+ now captures more than 45% of U.S. streaming service users, behind YouTube, Netflix, Amazon and Disney-owned Hulu, according to figures from Disney. ‘Insider Intelligence.