Disney+ has gained 8 million subscribers.
Disney+ soars in subscribers as Netflix faces a decline
The media company's on-demand app - which was launched in 2020 and is now thought to have almost 90 million subscribers worldwide - made the revelation during its annual Q2 earnings report on Wednesday (12.05.22), just weeks after rival streamer Netflix lost 200,000.
In the report documents, Bob Chapek, Chief Executive Officer, of The Walt Disney Company said: “Our strong results in the second quarter, including fantastic performance at our domestic parks and continued growth of our streaming services—with 7.9 million Disney+ subscribers added in the quarter and total subscriptions across all our DTC offerings exceeding 205 million—once again proved that we are in a league of our own,. As we look ahead to Disney’s second century, I am confident we will continue to transform entertainment by combining extraordinary storytelling with innovative technology to create an even larger, more connected, and magical Disney universe for families and fans around the world.”
Since its launch, the streaming app has given fans easy access to all the Disney classics such as 'Snow White and the Seven Dwarfs', 'Beauty and the Beast' and 'Mary Poppins' but as well as Disney Channel sitcoms and original movies but also managed to secure the streaming rights to all 32 seasons Fox's classic series 'The Simpsons' and has partnered with Hulu to bring viewers current hits like 'Pam and Tommy' and 'The Kardashians.'
Meanwhile, rival Netflix dropped 200,00 subscribers in the first quarter of 2022, followed by a 35 per cent stock price drop and could be set to lose 2 million more over the course of 2022.
Co-CEO and chief content officer Ted Sarandos said at the time: "We’ve got to compete, and we’ve got to continue to improve on the core service which is making TV series and films and now games that people really love. That’s what we’re really focused on and that’s a thing we can continue to grow the business in. Now, we talked about being highly penetrated in some of those core markets with users, which means that it’s harder to get them to join Netflix if they are already using Netflix. So we’ve got to figure out these different models that we’re doing now to more effectively monetize that viewing."