Disney surpassed Netflix in the number of international subscribers!

THE Walt Disney Co for the first time it surpassed in number of subscribers internationally Netflixwith 221.1 million at the end of June (combined subscribers to streaming services Disney+, Hulu and ESPN+ that belong to the same business “family”), compared to Netflix’s 220.7 million subscribers in the same month.

Disney also announced that at the end of 2022 it will raise subscription prices for customers who want to watch Disney+ or Hulu without commercials. The subscription for ad-free viewing will increase by 38% to $10.99 in December, when it starts offering a new option that will also include ads at the current price.

Disney shares moved higher on the US stock market late Wednesday after the above announcements, posting gains of about 7%.

“Disney is gaining market share, while Netflix is ​​struggling to add more subscribers. Disney still has room to expand in international markets where it is growing rapidly and constantly adding new customers“, said the analyst Harris Anwar of Investing.com, according to Reuters.

To attract new subscribers, Disney will offer a new subscription option with ads starting December 8, which will cost the same as the current ad-free version ($7.99 per month). Subscription prices for Hulu (which is majority owned by Walt Disney Co) will also increase by one to two dollars a month in December.

Disney+ now predicts that by the end of September 2024 it can reach 245 million subscribers worldwide. The company expects its streaming unit to turn a profit for the first time in 2024. In the last quarter of 2022, it posted a loss of $1.1 billion. Disney’s total revenue from all its activities reached $21.5 billion at the end of June this year (a 26% increase over a year ago).

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