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HomeDigit NewsDisney+ surpasses Netflix in terms of streaming customers, will increase prices

Disney+ surpasses Netflix in terms of streaming customers, will increase prices

Highlights

The total number of Disney+ streaming customers has reached 221 million.
With this, the company has left behind Netflix.
Netflix currently has 220.7 million streaming subscribers.

New Delhi. The total number of streaming subscribers of The Walt Disney Company (DIS.N) has reached 221 million. With this, the company left behind Netflix Inc (NFLX.O). The company announced that it will increase prices for customers who want to watch Disney+ or Hulu without ads. Giant Disney+ will increase prices by 38% percent to $10.99 for non-advertising customers in December.

In 2017, Disney launched the streaming service to compete with Netflix. At that time, viewers were shifting from traditional cable and broadcast television to online streaming. Five years after its inception, Disney has surpassed Netflix in terms of total streaming subscribers.

beat netflix
After the release of Star Wars series Obi-Wan Kenobi and Marvel’s ‘Miss Marvel’, 14.4 million Disney+ customers have joined the company. Disney said it had 221.1 million streaming subscribers at the end of the June quarter, while Netflix had 220.7 million streaming subscribers.

Netflix is ​​struggling
Investing.com analyst Haris Anwar said that while Netflix struggles to add more customers, Disney is gaining more market share. Disney still has a chance to grow in international markets. It is rapidly launching its service and adding new customers.

Disney will introduce a new version
The company has said that to attract new customers, Disney will offer an ad supported version starting December 8, which will cost $7.99. The same price is for the ad free version as well. Also, Hulu’s prices will also increase by one to two dollars from December.

80 million Disney+ Hotstar customers expected to join
The company’s Chief Financial Officer Christine McCarthy said Disney expects to add 80 million Disney+ Hotstar customers by September 2024. McCarthy said the company still expects its streaming TV unit to turn a profit in fiscal year 2024. The division reported a loss of $1.1 billion in the most recent quarter.

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