Disney Streaming Surpasses Netflix With 221 Million Total Subscribers
The Walt Disney Company beats expectations by adding 14.4 million Disney+ subscribers in the third quarter, pushing its combined streaming audience past Netflix.
The Walt Disney Company reports that its Disney+ streaming service reaches 152.1 million subscribers in the third quarter after adding an impressive 14.4 million users. This significant growth exceeds analyst expectations of 10 million new subscribers and allows Disney's combined direct-to-consumer streaming services to surpass Netflix in total global subscribers. Disney's overall streaming portfolio, which includes Hulu and ESPN+, now boasts 221.1 million total subscribers compared to Netflix's 220.67 million.
Most of the quarterly Disney+ growth occurs outside the United States and Canada. The international Disney+ segment adds 6 million subscribers to reach 49.2 million, while Disney+ Hotstar in India and Southeast Asia gains 8.3 million users to hit 58.4 million. Despite this strong quarterly performance, Disney lowers its 2024 subscriber forecast for Disney+ to a range of 215 million to 245 million, reducing both the low and high ends of its previous guidance by 15 million.
Alongside its positive subscriber numbers, Disney announces a price increase for its ad-free Disney+ tier in the United States. Starting December 8, the premium subscription costs $10.99 per month, up from the current $7.99 rate. This price hike coincides with the launch of a new ad-supported plan that retains the original $7.99 per month price point, giving consumers a choice between ad-free and ad-lite viewing experiences.