In 3 months, Disney+ has already scored 26.5 million subscribers
Disney+ has 26.5 million subscribers, the company reported in its first fiscal quarter earnings report on Tuesday, exceeding analyst expectations.
Disney+, which launched on November 12, is the company’s first foray into the streaming world. The service, which includes Disney’s deep content vault and an affordable price of $6.99 per month, is a major endeavor for the company and a shift in focus for its business overall.
Analysts expected that the service would bring in 20 million to 25 million subscribers this quarter.
“We had a strong first quarter, highlighted by the launch of Disney+, which has exceeded even our greatest expectations,” Bob Iger, Disney’s CEO, said in a statement on Tuesday. “Thanks to our incredible collection of brands, outstanding content from our creative engines and state-of-the-art technology, we believe our direct-to-consumer services, including Disney+, ESPN+ and Hulu, position us well for continued growth in today’s dynamic media environment.”
Revenue at the company rose to $20.8 billion, a 36% increase compared to a year earlier. The number matched Wall Street’s expectations.
Disney saw positive revenue across the board. The company’s movie studio had a strong quarter with $3.7 billion in revenue, which was up more than 100% over the year prior. The company’s streaming unit also saw revenue go up more than 100% from last year, bringing in $3.9 billion.
–This is a developing story and will be updated.
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