Disney+ beats subscriber estimates in Q2 2022 while Netflix struggles | TechBuzz

- Advertisement -

Disney reported its fiscal Q2 2022 results on Wednesday with some pretty positive numbers. And when it comes to the Disney+ streaming platform, it beat subscriber expectations for the quarter. This comes as Netflix has been losing users and reconsidering its business model.

As reported by CNBC, Disney+ closed the quarter with 137.7 million subscribers, while industry analysts expected about 135 million subscribers. In the second quarter alone, the platform gained 7.9 million new users. In the words of Disney CEO Bob Chapek, the strong results prove that Disney is in “a league of our own.”

Counting ESPN+, Hulu, and other Disney-owned streaming platforms, the company now has more than 205 million subscribers. Last year, Disney revealed its goal of reaching at least 230 million Disney+ subscribers by 2024.

- Advertisement -

The numbers were good enough to make Disney’s stock rise almost 5% in after hours trading. Industry analysts were “keen” to see that Disney+ has been able to reach new users while Netflix has been struggling with its platform. Earlier this year, Netflix revealed that it lost 200,000 subscribers last quarter, with the expectation of losing up to 2 million in the coming months.

9to5Mac’s Take

Netflix blames “unpaid accounts” for these numbers, which is how the company refers to users who use passwords shared by friends and family. The platform later announced that it is working on measures to crack down on password sharing, while it has also been considering launching a new ad-supported plan for a lower price.

At the same time, Apple TV+ is also having a good time. With award-winning movies and series, the global market share of Apple’s streaming platform has grown in recent months and is now getting close to HBO Max – although it’s still a long way behind Disney+, Amazon Prime Video, and Netflix.

- Advertisement -

Both Disney+ and Apple TV+ are cheaper than Netflix. And although Netflix has a considerably larger catalog than any other streaming platform, subscribers have been complaining that the company doesn’t renew most shows, which makes them lose interest in the platform. The result, as we can see, is Netflix losing ground to other smaller streaming platforms.

FTC: We use income earning auto affiliate links. More.

- Advertisement -

Check out 9to5Mac on YouTube for more Apple news:

Source link

- Advertisement -
I am admin of techbuzz.asia blog & I provide tech-related news. As a part of my hobby, I make content related to technology and gadgets reviews too. I love to be a content creator apart from it, I am a full-time employee in an MNC company and manage blogs systematically. You can mail me at [email protected]

More from author

Related posts


Latest posts

Xiaomi Mega Bundle: Redmi Note 11, Earbuds & 10 GB for less than €13/month | TechBuzz

Are you looking for a powerful smartphone including a tariff at a reasonable price? In the Curved Shop you can get the Xiaomi...

WWDC: macOS Alcatraz? | TechBuzz

The name macOS Alcatraz was, of course, just a joking name for Apple's next operating system. Nevertheless, in this issue we also speculated about...

Windows 11 version 22H2 – a new major update coming to us in the second half of the year | TechBuzz

Microsoft is currently working intensively on a new version of Windows known as 22H2 version and codenamed Sun Valley 2. This is the...

Want to stay up to date with the latest news?

We would love to hear from you! Please fill in your details and we will stay in touch. It's that simple!