“We now have 221 million total subscriptions to our streaming offerings.“, the company said in its statement of financial results published on Wednesday night.
In contrast, Netflix’s financial statement released on July 19 showed it had 220.6 million paid global streaming memberships in the period from April to June this year.
This marks the first time that a streaming service has surpassed Netflix in total subscribers and makes Disney the world’s largest streaming service provider in the industry in terms of number of subscribers.
Subscription Changes: Advertising and Price Increases
Despite the increase in subscribers, results were weak for Disney mainly due to higher programming and production costs, and have left a combined loss of 1.1 billion dollars.
For this reason, the company advanced that on December 8 it will apply a new price structure to make the streaming business profitable, which will make current plans more expensive, include cheaper options with advertising and offer new packages.
- Disney+ with ads will cost $7.99 per month, the same price it now charges for the ad-free version, while the latter alternative will go up $3 per month starting in early December.
- The company also announced that starting October 10 it will increase the prices of its second platform, Hulu.
The company did not specify whether these increases or others will be applied in the rest of the world.
Disney also announced that it will also offer packages that include two or three of these services, an initiative that has been taken by other rivals in its sector such as Warner Bros Discovery, which next year will offer the HBO Max and Discovery + services together.
Source: Ambito
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