Disney+ overtakes Netflix in total subscribers
The American over-the-top (OTT) platform Disney+, owned by The Walt Disney Company, has surpassed Netflix in the total number of streaming subscribers. The Disney+ streaming service, set to debut in November 2019, will primarily feature content from the many brands and banners owned by The Walt Disney Company. The streaming service also features movies and television shows from well-known studios like Disney, Pixar, Marvel, and Star Wars.
Statistics from the previous quarter show that Disney+ has 221 million users, an increase of 14.4 million from the previous quarter. It was predicted that Disney Plus would see a 10 million increase in streaming subscribers as a result of its new content. The popular Star Wars character Obi-Wan Kenobi was the basis for a TV show, and the focus on women in Ms. Marvel helped the OTT service get more subscribers.
During the period between April and July of 2022, American online streaming giant Netflix lost nearly 1 million subscribers, while Disney Plus was able to consolidate its market position with growth in subscribers. There were 220.7 million Netflix streaming subscribers as of the end of the second quarter. Reed Hastings and Ted Sarandos, who currently run Netflix, have seen a huge drop in subscribers and intense competition from other streaming services in recent months.
A decline of 2,000 subscribers was reported by Netflix in the first quarter of the current fiscal year. A user decrease of this magnitude was reported for the first time in the company’s history, which spanned a full decade. The production company predicted a 2 million subscriber loss in the second quarter of the fiscal year. Reed Hastings, Netflix’s CEO, viewed the less-than-anticipated drop in subscribers as a reprieve. He thinks that if the staff is enthusiastic, it’s a good sign for the company when bad news drops.
Reed Hastings said “Stranger Things” was the only thing that kept subscriptions from falling further when asked about the recent decline. The American science fiction television series Stranger Things combines elements of drama and horror in its production. The 2016 series has garnered a global following. A new season of the Netflix original series Stranger Things premiered between May 27 and July 1, 2022. Not only did the success of Stranger Things keep Netflix from losing more subscribers during the quarter, but so did the popularity of other shows like The Crown and Ozark.
Since Russia’s special military operation in Ukraine began, Netflix and other major tech companies have decided to pull back from the country. Since Netflix no longer provides its services in Russia, the number of Russian subscribers has dropped dramatically, by nearly 700,000. A few weeks ago, Netflix’s Ted Sarandos said the company was planning to introduce a cheaper subscription tier with the help of ads in the midst of the crisis.
This week, Disney+ also revealed that a cheaper, ad-supported subscription plan would be available by December 2022. From what we can gather in the media, the cheaper plan with ads would cost around $7.99 per month.