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 Disney+ reaches 152.1 million subscribers in the third quarter after adding an impressive 14.4 million users. This significant growth easily beats analyst expectations of 10 million new subscribers and pushes Disney's combined direct-to-consumer streaming services to 221.1 million total users. This combined total officially surpasses Netflix, which holds 220.67 million global subscribers after experiencing recent losses.
Most of the Disney+ growth for the quarter happens internationally, with Disney+ Hotstar in India and Southeast Asia contributing 8.3 million new users. Domestically, the service adds 100,000 subscribers to reach 44.5 million, while other international markets gain 6 million users to hit 49.2 million. Despite this strong quarterly performance, Disney lowers its 2024 subscriber forecast for Disney+ by 15 million on both the low and high ends, now targeting 215 million to 245 million subscribers.
Alongside its subscriber milestones, Disney announces a pricing shift for its streaming platform starting December 8 in the United States. The company raises the cost of its ad-free Disney+ tier to $10.99 per month, up from the current $7.99 rate. This price increase coincides with the launch of a new ad-supported plan, which takes over the previous $7.99 monthly price point.