In the world of streaming Netflix was top of the pile for a long time, but its reign of dominance has come to an end after Disney edged past its streaming rival. Entertainment Reporter Rishi Davda has more
Having gained 14.4 million subscribers to its Disney+ platform, the franchise now maintains a 221 million total subscriptions across its streaming offerings.
This is compared to Netflix’s reported 220.67 million total global subscribers. The company ended June with 220.7 million subscribers after losing nearly 1 million subscribers in the past quarter.
It is the first time any competitor has passed the streaming giant on the number of total subscribers.
Disney expanded into the streaming service market in 2017 by building Disney+ to rival Netflix as audiences moved to online viewing from traditional broadcast television.
The service also produces original series and films including popular shows including WandaVision, Hawkeye and High School Musical: The Musical: The Series.
Walt Disney Co. said on Wednesday it is raising prices for streaming subscribers in the U.S. who want to watch Disney+ without ads. Subscription costs for a no-adds streaming experience will rise 37.5% from $7.99 per month to $10.99 per month.
The media giant also profits off its popular theme parks and production company.
“We had an excellent quarter, with our world-class creative and business teams powering outstanding performance at our domestic theme parks, big increases in live-sports viewership, and significant subscriber growth at our streaming services,” said Disney chief executive Bob Chapek about the company's financial reports between June and August 2022.
“We continue to transform entertainment as we near our second century, with compelling new storytelling across our many platforms and unique immersive physical experiences that exceed guest expectations."
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