Disney reveals the increase in subscriber for its streaming service

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Disney recently revealed it Quarter four earnings for the fiscal year 2020, and with its revenue announcement, it also announced a huge rise in its subscribers. According to sources, Disney claims that its streaming service Disney+ had garnered 73.7 million subscribers globally as of October 3rd.

The increase was over 16.2 million from the previous quarter when the service was said to have 57.5 million subscribers. However, when considered as an overall factor than the streaming services like Hulu and ESPN+ now has more than 120 million premium users.

According to sources, a large chunk of the 120 million subscribers came from Disney+ Hotstar. According to the company, India alone accounts for 25 percent of all Disney+ subscribers. However, the average monthly revenue per paid subscriber for Disney+ Hotstar in India and Indonesia is lower than the subscription charges in North America and Europe.

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CEO Bob Chapek said that “the popularity of the service has exceeded even the company’s own expectations. It has been) a real bright spot amidst the pandemic.”. the company’s CEO had also earlier predicted that Disney+ would have 60-90 million subscribers by 2024. According to sources, the company also earned $14.7 billion in revenues during the fourth quarter, obviously a big chunk of Disney+.

Though the pandemic might have boosted the company’s earnings in streaming services, its other investments like theme park and movie productions have taken a serious hit due to the pandemic. And the streaming could only add only a little to the companies overall profit.

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