Q3 Earnings In and Streaming Subscribers Continue to Be On the Up!
We just got of the LIVE broadcast of the Q3 Earnings call at the Walt Disney Company and the definitely stopper of the day was the fact that subscriber numbers continue to be up across Disney+, Hulu and ESPN.
According to today’s report. Disney streaming services are up 12.4 million on the last quarter.
As the New York Times tells us, the is more than Wall Street had been expecting going into the Q3 earnings report today.
Disney+ currently sits at 116 million subscribers worldwide. That’s up from 104 million last quarter. This is attributed to what Bob Chapek calls “World class content from world class storytellers” via successful projects like Cruella, Loki and Luca. Another huge factor is the Disney+ Hotstar partnership, which Chapek advises makes up 40% of the Disney+ subscriber increase.
The increase in Disney+ subscriber numbers continues a trend of Disney+ growing much faster in its inaugural year than was initially expected. As we previously reported here at MickeyBlog, Disney+ has already surpassed its longer-term five-year subscriber goal. As the New York Times reminds us, the pandemic was a “huge accelerant” when it comes to subscriber numbers.
As a result of these figures, Disney stock price rose more than 5% in after-hours trading today.
From a revenue perspective, The Walt Disney Company advised that the company brought in $4.3 billion in streaming venue in this quarter. This is up 57% from last year due to increased subscriber numbers abroad and an increase in the monthly subscription fees. Disney also charged a Premier Access fee for Cruella with households wanting to screen the film on Disney+ needing to pay an addition $29.99 per household.
When it comes to Hulu, the streaming service now has 42.8 million subscribers. This is up from the 41.6 reported last quarter. In addition ESPN has 15 million subscribers on the ESPN+ platform which is up 75%.
Despite the streaming successes, Disney was quick to point out that there are a variety of costs associated with the growth of these services which reflected in losses of up to $300 million. This includes the cost of producing and marketing new content.)
Readers are encouraged to keep following along with MickeyBlog for further Walt Disney World news and updates!
Have you heard the news!? Walt Disney World packages are currently available through Summer of 2022! Book your getaway with ME before the end of August of 2021 and I’ll throw in a Disney Gift Card!* Plus 1 lucky family will be picked each month to receive a special in-room delivery from Disney Floral & Gifts! Simply fill out my form below to get your FREE, no obligation quote!
With new policies and procedures in place for next year, there’s never been a better time to work with an Authorized Disney Vacation Planner who can help you navigate through Disney World’s new way of doing things! Just fill out my form HERE to get your FREE, no-obligation quote. Alternatively, feel free to reach out at mroden@mickeytravels.com or follow along on Facebook