Disney has finally won its long-running battle for profitability with its streaming platforms Disney+, Hulu and ESPN+. In its third quarter earnings report announced yesterday, the company announced that it generated a total of $47 million in revenue from the platforms.
The result obtained was a remarkable success compared to the loss of 512 million dollars in the same period last year.
Disney Continues to Increase in Subscriber Numbers Along with Its Earnings
While Disney Plus and Hulu turned things around by reporting profits last quarter, losses at ESPN Plus were keeping the company’s overall streaming business from reaching profitability. However, with this quarter’s results, Disney’s combined streaming businesses have surpassed the profitability threshold for the first time.
Disney+ gained nearly 1 million new subscribers in the US and Canada, bringing its total number of subscribers to 54.8 million. Hulu’s number of subscribers also increased compared to the previous quarter, reaching 51.1 million.
In addition, in a surprise decision yesterday, the company announced that it increased the prices of Disney +, Hulu and ESPN + plans. Disney has been steadily increasing the prices of its streaming services in recent years. Similar price increases were experienced last year and in 2022.
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This success of Disney in the broadcasting business is considered an important turning point in the industry. The company is expected to continue its growth by increasing content diversity and improving subscriber experience.
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