Disney overtakes Netflix and ups prices
August 11, 2022 - Disney has overtaken Netflix in the battle for subscribers, as the entertainment giant revealed price hikes across Disney+, Hulu and ESPN+ to coincide with the launch of less expensive ad-supported versions.
Disney+ added 14.4 million new international subscribers in the third quarter, taking its total to 152.1 million subscribers (up 1.1 million since the last quarter year over year). Hulu has 46.2 million international subscribers and ESPN+ has another 22.8 million for a total of 221.1 million across all its brands.
The Disney+ growth seems to disprove claims that the streaming market has reached saturation point and perhaps suggests that customers have either become more discerning as household budgets come under pressure - or the future will be one of greater churn, whereby gains in subscribers come at the expense of the competition.
Meanwhile Netflix, the long-time market leader, dropped 1.3 million subscribers to 220.7 million in the same period, falling for the second quarter in succession although still better than its projected loss of 2 million. Amidst a recently announced partnership with Microsoft, and the possibility of introducing its own ad-supported pricing tiers, the streaming giant is expecting subscriber growth to rebound.
- Price hikes coming to Disney+, Hulu, ESPN+ as total subscribers top Netflix for first time (UPI)
- Disney streaming subscriber growth blows past estimates, as company beats on top and bottom line (CNBC)
- Netflix subscriber count in the US and Canada dropped by 1.3 million over the last three months (The Verge)