Disney + grows more than Netflix and reaches 103.6 million subscribers
The number of Disney + subscribers grew at a faster pace than Netflix, according to information revealed on Thursday (13).
Disney’s streaming service reached 103.6 million customers worldwide on April 3, adding 8.7 million subscribers in the first quarter of 2021. In contrast, the rival managed 3.98 million subscribers in the same quarter. period, despite having more subscribers in total (208 million).
Still, according to Bloomberg, Disney + did not meet growth expectations, which were to reach 110.3 million global subscribers in the first quarter. The period was marked by the first price increase for the service. However, Disney’s chief financial officer, Christine McCarthy, said that this move has not resulted in a significant increase in subscriber turnover.
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The scenario also had an impact on the revenue recorded by the company: $15.61 billion, against $15.85 billion that were expected. The operating loss of the streaming segment has decreased to $290 million (from $805 million in the previous year), but the sector is expected to become profitable by the end of 2024, according to the company forecasts.
The company recorded a profit of $901 million in the quarter (against $460 million in the same period of the previous year). Unlike Netflix, Disney has more diversified businesses, and can benefit from the return of face-to-face activities.
The park and experience sector, which was once the most profitable at Disney, suffered greatly from the pandemic, and recorded the fourth quarter followed by operational loss. The company has already started reopening some theme parks in California, however there is still a 25% capacity limit and visitor restrictions for California residents only.