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Disney+ Reaches Over 164 Million Subscribers

Disney+ has reached 164.2 million subscribers with over a 12 million gain in Disney+ streaming subscribers beating Wall Street expectations.  Last August, Disney+ announced it had hit 152.1 million paying customers worldwide.

Overall streaming subscribers passed 235 million, with Hulu adding 1 million subs in its last quarter, and ESPN+ adding 1.5 million.

The results in streaming reflected higher costs at Disney+, and lower results at Hulu, as well as stronger results at ESPN+.

Disney CEO Bob Chapek said in a prepared statement:

“2022 was a strong year for Disney, with some of our best storytelling yet, record results at our Parks, Experiences and Products segment, and outstanding subscriber growth at our direct-to-consumer services, which added nearly 57 million subscriptions this year for a total of more than 235 million.

Our fourth quarter saw strong subscription growth with the addition of 14.6 million total subscriptions, including 12.1 million Disney+ subscribers. The rapid growth of Disney+ in just three years since launch is a direct result of our strategic decision to invest heavily in creating incredible content and rolling out the service internationally, and we expect our DTC operating losses to narrow going forward and that Disney+ will still achieve profitability in fiscal 2024, assuming we do not see a meaningful shift in the economic climate. By realigning our costs and realizing the benefits of price increases and our Disney+ ad-supported tier coming December 8, we believe we will be on the path to achieve a profitable streaming business that will drive continued growth and generate shareholder value long into the future. And as we embark on Disney’s second century in 2023, I am filled with optimism that this iconic company’s best days still lie ahead.”

Source: The Hollywood Reporter

 

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