Disney+ achieved over 150 million streaming subscriptions by the conclusion of its fiscal fourth quarter, marking an increase from 146.7 million in the previous quarter.
In their recent report on Wednesday, Disney disclosed that Core Disney+ subscriptions reached 112.6 million subscribers as of the quarter ending on September 30, with Disney+ Hotstar counting 37.6 million subscribers.
Furthermore, Hulu boasts 48.5 million subscribers, while ESPN+ has garnered 26 million subscribers.
Despite these achievements, Disney’s streaming business experienced a $387 million loss during Disney’s Q4.
Analyst consensus data from Refinitiv had projected earnings per share (EPS) of 68 cents on revenue of $20.1 billion for Wall Street. However, Disney’s official report showed diluted EPS of 82 cents on $21.2 billion in revenue.
“Our results this quarter reflect the significant progress we’ve made over the past year,” CEO Bob Iger said in a letter to shareholders. “While we still have work to do, these efforts have allowed us to move beyond this period of fixing and begin building our businesses again. We have a solid foundation of creative excellence and innovation built over the past century, which has only been reinforced by the important restructuring and cost efficiency work we’ve done this year, and we’re on track to achieve roughly $7.5 billion in cost reductions. Combined with our portfolio of valuable businesses, brands and assets – and the way we manage them together – Disney has a strong hand that differentiates us from others in our industry. As we look forward, there are four key building opportunities that will be central to our success: achieving significant and sustained profitability in our streaming business, building ESPN into the preeminent digital sports platform, improving the output and economics of our film studios, and turbocharging growth in our parks and experiences business. We have already made considerable advancements in these four areas and will continue to move forward with a sense of purpose and urgency, and I’m bullish about the opportunities we have before us to create lasting growth and increase shareholder value.”
On Wednesday, Disney’s stock concluded the day at $84.49 per share. The standard U.S. stock markets are scheduled to resume trading on Thursday at 9:30 a.m. ET. Furthermore, Disney’s CEO, Bob Iger, along with other key Disney executives, will conduct a conference call at 4:30 p.m. ET to provide a more comprehensive discussion of the quarter’s performance.