IIn contrast to Netflix, the domestic competitor runs Walt Disney the streaming machinery at full speed. The number of subscribers had risen to 137.7 million, the US group announced on Wednesday after the US stock market closed. In the second business quarter alone at the end of April, almost eight million viewers were persuaded to take out a subscription. That was well above expectations. The stock gained more than 3 percent in after-hours trading.
The Disney Group will be 100 years old next year. Company boss Bob Chapek said with a view to the streaming numbers that one was “in a class of its own”. Disney only entered the streaming business in November 2019 and has been catching up quickly ever since – including with series from the Star Wars universe such as “The Book of Boba Fett” and soon “Obi-Wan Kenobi”. By the end of the 2024 financial year, the group wants to reach 230 to 260 million subscribers. Disney is becoming a “real threat” to Netflixsaid Shahid Khan, a partner at technology consulting firm Arthur D. Little.
Industry pioneer and leader Netflix has recently felt a certain tiredness and even lost customers in the first three months of the year. This fueled concerns that the corona-related boom among streaming providers could come to an end. In addition to Netflix and Disney, Amazon, Apple and Paramount, among others, are also investing heavily to attract viewers who want to regularly stream new series and films at home.
In addition to the amusement parks and the film business with the streaming offer, Disney also owns cruise ships and various television channels. Total sales rose 23 percent to $19.25 billion last quarter. The clear plus was also due to the amusement parks, which cashed in. Profits, on the other hand, almost halved to $470 million, which was partly due to tax increases.
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