Competitive Netflix, Disney+ Are Now Increasingly In Demand

Chinarainbow.org – Disney released its financial statements for the first quarter of 2022. In the report, the company also revealed the number of subscribers who now use the subscription streaming service, Disney+.

The report said the number of Disney+ subscribers now stands at 129.8 million, an increase of 11.8 million from the last quarter in 2021.

The figure includes the number of subscribers from collaboration with Indian streaming service provider Hotstar. Of the total, the number of Disney + Hotstar subscribers is now recorded at 45.9 million.

Disney+ subscriber growth this quarter was significant, as it exceeded Wall Street expectations of an additional 7 million.

The number of subscribers was also detailed by Disney with details of 41.1 million international subscribers and 42.9 million subscribers in the United States (US) and Canada.

In addition, Disney also operates other streaming services such as Hulu and ESPN+. Hulu subscribers increased 6.6 million to 45.3 million, while ESPN+ increased 4.3 million to 21.3 million.

Thus, if calculated, the number of Disney subscribers from all its streaming platforms reached 196.4 million.

Compiled by TechCrunch, Monday (2/14/2022), Disney CEO, Bob Chapek said, the success of Disney + in this quarter was influenced by a combination of organic customer growth and new content.

Among the company’s new oscar-nominated content are Encanto, Eternals, Hawkeye and The Book of Boba Fett.

The company itself set a target of releasing one new title every week. Chapek said he would double that number in the future. The company is also preparing $33 billion to produce content in fiscal 2022.

Disney is still targeting 230-260 million Disney+ subscribers by the end of fiscal year 2024.

At the end of last year, Disney+ was in 42 additional countries and 11 regions in Europe, the Middle East and Africa. The service is planned to be available in several new countries such as South Africa, Turkey, Poland to the United Arab Emirates.

Disney+ is currently available in 64 countries including the US, Canada and the UK. The company is targeting the service to be available in more than 160 countries by fiscal year 2023.

Competition with Netflix

With Disney+ posting strong subscriber growth, Netflix’s growth slowed in 2021.

In the official announcement released by Netflix, the number of subscribers in the last three months (October-December) 2021, increased by 8.3 million. As such, Netflix has 18.2 million new subscribers in total in 2021.

A pandemic called Netflix was the mastermind of the company’s slowing subscriber growth in the last quarter of 2021.

Because, in 2020 when the pandemic began, Netflix was already flooded with new customers due to the policy of working to school from home.

Another factor called Netflix is economic hardship in some countries such as Latin America, making the company’s subscriber growth not recover as before the pandemic.

This growth also makes investors worried about netflix’s future performance. They worry that Netflix’s popularity as a major video on demand platform is almost over.

These concerns also caused Netflix’s share price to plunge more than 40 percent from its peak in mid-November (about $700).

In the first quarter of 2022, Netflix projected subscriber growth of just 2.5 million, down from 4 million in the same period in 2021. Netflix has 222 million subscribers worldwide.

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