Disney is now ahead of Netflix in subscriber numbers
In the movie streaming business, subscriber numbers are everything. They determine your bottom line and dictate the direction of your future.
For more than a decade, Netflix was the unbeaten leader in the streaming business. The company led as others watched in admiration. But things have gradually shifted over the years and streaming is now a mouthwatering cake that has attracted several admirers.
Disney now says it has 221.1 million subscribers across its three streaming platforms” Disney+, Hulu and the sports-focused ESPN+.
The company said it added 14.4 million Disney+ subscribers in the quarter, many of them outside of the US –
Disney plans to launch its ad-supported service later this year, charged at the current subscription rate of $7.99. subscribers who opt for the ad-free service will pay $10.99 per month.
“We are in a position of strength with record upfront advertising commitment,” chief executive Bob Chapek told analysts earlier this week.
In January, The Walt Disney Company which runs Disney+ announced that it was expanding to 42 new countries, including six in Africa—Egypt, Morocco, Algeria, Libya, Tunisia, and South Africa. South Africa became the first African market to welcome the service in May.
The competition among leading streaming companies has seen Netflix shed substantial subscriber numbers since the beginning of the year. The firm is currently estimated to have 220.67 million subscribers.
The battle for subscribers is only expected to get tougher as competition shifts to the kind of content members can access, monthly subscription fees and options to have paid ads on the platform.
What’s quite clear is that the innovative strategies will place the best companies in a better position to win subscribers.
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