Disney reported its third quarter performance specifically for the Direct-to-Consumer business group. Total revenue reached $6.296 billion, increasing by 13% compared to the same period last year, with operating income of $321 million. This resulted in consecutive positive earnings for Disney’s streaming business in the second quarter, following the first quarter of profitability.
Disney attributed the growth of this business group to the increase in the number of subscribers, the adjusted subscription prices, higher advertising placements, and reduced expenses of Disney+. Disney+ boasts 122.7 million global accounts, not including Disney+ Hotstar with an additional 35.9 million accounts. Hulu has a total of 52.0 million accounts, while ESPN+ has 25.6 million accounts.
Source: Disney
TLDR: Disney’s Direct-to-Consumer business group saw revenue growth and consecutive profitability, credited to subscriber growth, price adjustments, increased advertising, and cost efficiencies of Disney+ platform, with impressive subscriber numbers across Disney+ platforms.
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