BREAKING NEWS: Disney+ Subscribers Now at 95 Million According to Earnings Report
For those following along with MickeyBlog, you’ll know that today is the day for Disney’s latest earnings report and already we have some impressive numbers to share with you! The big takeaway so far is that the Disney+ streaming network is continuing to defy expectations and now has some 95 million subscribers! This means that Disney+ continues to be ahead of the projected curve for growth.
Check out the official tweet from CNBC Now below:
EARNINGS: Walt Disney Q1 EPS $0.32 Adj.; Q1 Revs. $16.25B vs. $15.93B Est. • $DIS reports 95M Disney+ subscribers, 146M total direct-to-consumer subscribershttps://t.co/RC5eyPVf4s pic.twitter.com/xAqzXp79jo
— CNBC Now (@CNBCnow) February 11, 2021
Disney reported on their earnings for the fiscal first quarter of 2021 after the bell today and for those investing in Disney, the stock was up around 1.5% after hours.
As a result of the news Disney’s earnings per share is now 32 cents adjusted vs loss of 41 cents expected. Revenue is at $16.25 billion versus the $15.9 billion expected. This is according to Refinity!
So let’s get back to those awesome streaming numbers! Last time we discussed earnings back in December, Disney announced that their paid Disney+ subscribers were at 85 million which at that time dramatically surpassed expectations. Now nearly two months later they have added an additional 10 million subscribers into the fold.
The popularity of The Mandalorian as well as the premiere of Disney+’s first Marvel series WandaVision and Pixar’s Soul (which has earned over $100 million at the box office worldwide) are certainly contributing factors! This means that Disney has surpassed its goal of reaching 90 customers by it’s 4 year anniversary. They managed to accomplish this in under a year and a half!
The company said that it now has more than 146 million total paid subscribers across its streaming services as of the end of the first quarter. Disney’s other direct-to-consumer platforms include ESPN+ and Hulu.
The success of Disney’s foray into streaming is much needed to offset the costs of ailing theme park operations which have been badly hit by the pandemic. Revenue at Disney’s parks, experiences and products segment fell 53% to $3.58 billion as the theme parks still remain closed or operating at reduced capacity. Cruise ships and guided tours have also been suspended.
Disney+ first launched last November, the service quickly gained traction. They signed up 10 million subscribers over the first day of launch and rocketed to 50 million subscribers in the first five months. This is a story that we’ll continue to follow closely. Readers are encouraged to keep checking back with us for further news and updates!
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Source: CNBC