Disney+ added 14.4 million subscribers during the third fiscal quarter for a total of 152.1 million, beating Wall Street analysts’ expectations of an average 10 million subscriber add for the quarter.
During the previous quarter ending on April 2, Disney+ added 7.9 million subscribers for a total of 137.7 million subs. Hulu followed with 45.6 million subscribers, while ESPN+ had a total of 22.3 million for the quarter. Revenue across the company reached $19.2 billion during the second fiscal quarter, with income landing at $3.7 billion.
Ahead of the company’s earnings call on Wednesday — the first for CEO Bob Chapek since receiving a three-year contract extension that began in July and runs through 2025 — Disney unveiled widespread price hikes across Disney+, Hulu, and ESPN+ to coincide with the launch of an ad-supported Disney+ tier this December.
Disney’s updated streaming figures come as Hollywood is reevaluating its all-in approach to streaming in light of slowing growth at Netflix. The once ad-adverse streaming giant has recently partnered with Microsoft to launch an ad-supported subscription tier in early 2023 to help stem the loss of subscribers.
More to come.