Disney + adds nearly 8 million subscribers in fiscal second quarter, up from nearly 20 million in the last six months

Disney posted strong streaming profits, adding nearly 8 million new Disney + subscribers in its fiscal second quarter.

Disney + reached 137.7 million global subscribers in the quarter ended April 2, up from 129.8 million in the previous quarter. The figure increased by nearly 20 million over the previous six months and 33% more than the previous year’s 103.6 million.

A consensus among Wall Street analysts required 5.2 million Disney + subscribers, of which only the most optimistic predicted earnings in excess of one million.

Hulu reached 45.6 million subscribers, including 3.8 million in its live TV package, an increase of just 10% year-over-year. ESPN +, which broadcasts live sports and high-profile documentaries, grew 62% year-over-year to 22.3 million subscribers.

Disney + Average Revenue Per User (ARPU) increased 9% to $ 4.35. It falls short of many large streaming peers as it is a low-cost supplement via Hotstar in India and other parts of South Asia.

Disney + ‘s growth rate came with the Hotstar package, which hit 50.1 million, or roughly 36% of the total. Each year, Disney + Hotstar grew 42%, a comparable growth rate of 28% for Disney + outside of Hotstar.

When the company began focusing its strategy solely on streaming customers a few years ago, its collection of elite brands and marketing expertise launched Disney +. He started the flag a bit when he approached the market two years ago and looking for offers beyond Marvel! Star Wars And the core Pixar, the company has been leading general entertainment titles such as The Beatles: Return Y dancing with the Stars To the platform.

Despite the push from customers, long-term investor confidence in Disney’s streaming future has waned, with shares of the company down more than 30% for 2022 since the start of the year with plenty of stock and media tech. . It fell another 2% today and ended the day at $ 105.25, its lowest level in more than two years, but recovered slightly in after-hour trading. Netflix has been abused by new streaming hopes due to recent financial woes, indicating a potentially smaller world of potential subscribers and a more profitable prospect for all competitors.

By the end of 2020, with Disney + having a stellar first year and the success of the Hulu and ESPN + bundle, the company had increased its fiscal goals for 2024 from 300 million to 350 million total streaming subscribers and from 230 million to 260 million. . Disney +. Just over two calendar years from fiscal year 2024, the company had 205.6 million streaming subscribers as of April 2.

The company saw a significant flow of original programming, including previews, in the company’s fiscal second quarter, most notably in March. dozens lesswonderful series knight of the moon and pixar It turns red. charming jogging Charm 2022 has also started and seems to have strengthened the quarterly results. Released exclusively in theaters for 30 days after Thanksgiving, the Oscar-winning animated film spent dozens of weeks in Nielsen’s US weekly top ten.