Disney+ Hits 28 Million Subscribers

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The Walt Disney Company CEO Bob Iger announced on an earnings call that Disney+ has reached 28.6 million subscribers as of Monday, February 3, surpassing Wall Street analysts’ prediction of 25 million.

While the original number in the company’s Q1 FY2020 reports state 26.5 million paying subscribers, Iger provided the update during the call. The report, which reflects subscriber count as of December 28, 2019, also revealed 6.6 million subscribers for ESPN+ and a total of 30.4 million subscribers for Hulu, where Disney owns a controlling stake.

“We had a strong first quarter, highlighted by the launch of Disney+, which has exceeded even our greatest expectations,” Iger said in a statement. “Thanks to our incredible collection of brands, outstanding content from our creative engines and state-of-the-art technology, we believe our direct-to-consumer services, including Disney+, ESPN+ and Hulu, position us well for continued growth in today’s dynamic media environment.”

The first quarter saw Disney’s direct to consumer and international business (that includes streaming) revenue increase from $0.9 billion USD to $4.0 billion USD year-over-year, while its operating loss increased from $136 million USD to $693 million USD. The growing losses were credited to “costs associated with the launch of Disney+, the consolidation of Hulu and a higher loss at ESPN+.”

Source: Hypebeast

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