There has been a lot of worry about the streaming market ever since Netflix faced its first subscriber drop in over ten years. So, everyone was wondering if others in the market would also face a slow down in subscriptions, or even worse, an additional drop. It turns out Disney managed to avoid the trend, as they have added 8M subscribers, beating Wall Street’s estimates.
The service now stands at a total of 137.7M subscribers with its second-quarter growth. As such, its shares went up by 4.5% which definitely shows some of the hesitations that were out in the market. Hulu has also added 300K subscribers to stand at 45.6M while ESPN+ reached 22.3M with one million additional subscribers. So, there’s a general growth across all streaming services currently owned by the House of Mouse.
Disney has taken a hit of $1 billion ending its content licensing agreements, but even while they wouldn’t solidify which ones, Netflix is a definite part of it with their Marvel series. Their only real challenge now remains with Disney+ Hotstar being a cheaper offering of the service that increases its subscriber growth but not the profit pulled from it. Spending will continue to grow, but we’ll see how it continues to move forward in the future.