Disney has shared the results of the fourth quarter of fiscal 2022. During this period, the number of subscribers of the Disney+ service increased by 12 million and reached 164.2 million. Thus, the streaming service was able to surpass its own forecast. The subscriber base was expected to increase by 9.35 million this quarter.
If all Disney streaming services (Disney+, Hulu and ESPN+) are taken into account, the combined base is 235.7 million subscribers. This figure also turned out to be higher than the company’s forecasts (233.8 million). At the end of the previous quarter, the services totaled 221 million subscribers. For the entirety of fiscal 2022, the number of subscribers increased by approximately 57 million. This is the second time that Disney has surpassed Netflix, which has 223.09 million subscribers as of the third quarter of its fiscal year. ESPN+ currently has 24.3 million subscribers (up from 22.8 million in the previous quarter) and Hulu has 47.2 million (up from 46.2 million in the previous quarter).
Despite such a significant increase in the number of subscribers, Disney fell short of expectations for total revenue of $20.15 billion. Analysts had expected the company to increase revenue by 15% year-over-year to $21.3 billion. direct-to-consumer sales generated a $1.5 billion loss. Management expects the unit’s operating loss to narrow going forward and Disney+ to reach profitability in fiscal 2024 “if we don’t see a significant change in the economic climate.”
As the company looks for additional ways to generate revenue, Disney has increased the subscription price of its Disney+, Hulu, Hulu Live TV, and ESPN+ plans. Disney+ is also set to launch a more affordable ad-supported subscription version. This will take place on December 8th. Earlier this month, Disney+ announced that it was testing a store of exclusive merchandise for subscribers, which could be another source of income for the company. It allows select US Disney+ subscribers to purchase exclusive merchandise and get early access to products from brands such as Star Wars, Marvel, Disney Animation Studios and Pixar.
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Source: techcrunch
