Disney Has 100 Million Paid Subscribers

People all over the world have at least some knowledge about the Walt Disney Company, commonly known as Disney. The coronavirus pandemic created certain problems for the company. On Tuesday, the company reported mixed earnings for its third fiscal quarter. Unfortunately, as in the case of many famous companies, the company also struggled to deal with problems created by the pandemic. Interestingly, Disney’s direct-to-consumer and international segment were the only ones to report an increase in year-over-year revenue.

For example, the revenue fell 85% compared to the same period for 2019. Importantly, the revenue failed to meet the expectations. The company reported a net loss for the quarter of $4.72 billion, largely due to charges connected with earlier acquisition of Twenty-First Century Fox.

As stated in the title of this article, Disney now has 100 million paid subscribers across its streaming services. Notably, its streaming services include Disney+, Hulu, and ESPN+.

It is worth mentioning that, Disney+ accounts for more than half of 100 million paid subscriptions. Notably, at the end of the fiscal third quarter, the number of Disney+ subscribers reached 57.5 million. The company launched Disney+ less than a year ago. Moreover, as of August 3, the number of paid subscribers rose to 60.5 million.

Disney and the impact of the coronavirus

Let’s have a look at Disney’s various divisions and how they performed in the fiscal third quarter. Unfortunately, the revenue from the media networks dropped 2% to $6.56 billion compared to the same period of time in 2019.

Furthermore, parks, experiences, and products also suffered losses in the third fiscal quarter. The revenue fell 85% to $983 million. Also, the revenue from studio entertainment declined by 55% to $1.74 billion.

As can be seen from the information stated above, direct-to-consumer and international segment added 2% to $3.97 billion.