Disney is now officially the largest streaming service in the world, outperforming Netflix.
As of July 2022, Disney had 221 million direct-to-consumer members overall, surpassing Netflix’s 220.7 million. The overall number of subscribers to the Mouse House comprises 152.1M for Disney+, 46.2M for Hulu, and 22.8M for ESPN+. During the third fiscal quarter of the corporation, Disney+ added 14.4 million customers, while Hulu and ESPN+ added 600,000 and 500,000 new subscribers, respectively.
The new subscriber high comes as Disney makes preparations to introduce a less expensive, ad-supported version for Disney+. The new, ad-supported package, titled Disney+ Basic, will launch in the United States on 8 December for $7.99/month. The existing ad-free tier, which costs $7.99 per month, will be renamed Disney+ Premium and with a price hike it will now cost $10.99 per month. According to Disney, the Disney+ Basic tier’s customers can expect four minutes of commercials per hour, divided into 15 and 30-second spots.
Disney reported spending more than $1 billion on content during the third quarter, demonstrating the company’s continued commitment to streaming. Percy Jackson and the Olympians, National Treasure: Edge of History, Nautilus, and new iterations of The Mighty Ducks: Game Changers and Doogie Kameāloha, M.D. are just a few of the prominent Disney+ series that are currently in development. New Star Wars and Marvel series like She-Hulk: Attorney at Law, Daredevil: Born Again, The Mandalorian season three, and Star Wars: Skeleton Crew will also be available to stream on the platform.
While Netflix fights to keep its current subscribers on its service, Disney continues to draw new consumers. In the second quarter of 2022, the corporation lost a little under a million members, and in 2021, subscriber goals were also missed. With the launch of a lower-cost, ad-supported subscription tier, Netflix is attempting to stop the bleeding. Although the price of a Netflix tier with advertisements is still unknown as it is working on it, the company’s current monthly prices are $9.99 for Basic, $15.49 for Standard, and $19.99 for Premium, with a restriction of one, two, and four subscribers can watch per screens, respectively for each plan. The Netflix ad tier will debut in the first half of 2023.