Walt Disney Co has passed Netflix Inc in the total number of streaming subscribers at the end of the most recent quarter.
Combined with Hulu and ESPN+, Disney had 221.1 million streaming subscribers at the end of June, 2022. Netflix said it had 220.7 million streaming subscribers.
“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. With 14.4 million Disney+ subscribers added in the fiscal third quarter, we now have 221 million total subscriptions across our streaming offerings,” said CEO Bob Chapek.
“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, all of which are reflected in our strong operating results this quarter.”
Revenue and earnings also beat estimates, driven by the Disney Theme Parks. Disney Parks, Experiences and Products reported quarterly revenue of $7.4 billion, up from $4.3 billion a year earlier, and an operating profit of $2.2 billion, up from $356 million.
Disney also announced new streaming structure details. It’s boosting its ad-free Disney+ subscription price to $10.99 per month, and introducing its ad-supported Disney+ at $7.99 per month, starting Dec. 8, 2022.