The Walt Disney Company reported on Wednesday that the number of Disney+ subscriptions climbed to 152.1 million in the third quarter. The company posted better than anticipated results. The streaming service gained 14.4 million users during the period, surpassing the expectations of 10 million.
Additionally, the company announced it has cut the 2024 projection for Disney+ from 215 million-245 millions of subscribers. Disney had previously had set its Disney+ subscriber forecast between 230 and 265 million by the close of fiscal 2024. However, it the company has since lowered its guidance by 15 million at both the high and low ends.
At the close of the quarter Hulu boasted 46.2 million subscribers, while ESPN+ had 22.8 million. The numbers increase the total number of Disney DTC customers to 221.1 million this implies that the streaming services have now surpassed Netflix by total number of subscribers. Netflix has reported 220.67 million worldwide subscribers for the third quarter of its financial year after losing nearly 970,000 subscribers.
During the company’s earnings call, Disney CEO Bob Chapek said, “We had an excellent quarter, with our world-class creative and business teams needed to power outstanding performance at our domestic theme parks, big increases in live-sports viewership, and significant subscriber growth at our streaming services.”
The majority of Disney+ growth for the quarter was in the outside world of United States and Canada, which saw the service add 100,000 new subscribers, bringing the total to 44.5 million. The company says that the number of international Disney+ subscribers grew by 6 million, bringing the total to 49.2 million. Additionally, Disney+ Hotstar, that is available throughout India as well as Southeast Asia, added 8.3 million subscribers, bringing the total to 58.4 million.
On Wednesday Disney made it clear that it would increase the price of its free Disney+ subscription to $10.99 per month beginning on November 8th in the United States, up from the current $7.99 cost. The price increase will be in conjunction with the release on the service’s forthcoming paid-for plan that Disney promises will be priced at $7.99 per month.