Fall has not been kind to Disney’s streaming ambitions. Disney + added just 2.1 million subscribers In the fourth quarter, It provides a total of 118.1 million subscribers This is consistent with the company’s already cautious estimates (“fewer single-digit millions”) and 60 percent more total customers than a year ago, but less than what some analysts had expected. CNBC Note That StreetAccount predicted 9.4 million new users this quarter.
Disney’s streaming-based Direct-to-Consumer division also lost 630 million (up from $ 374 million a year ago) due to overspending on production, marketing and “technology costs.” These were expected due to the growing service, but they suggest Disney + is still not a net positive for Disney. Two years after launch. During an earnings call, company chief Bob Chapek was still confident that the company would reach the customer target (230 million users by September 2024) and turn a profit.
The media giant warned about “headwind”. Although it did not initially focus much on the issues, we do notice that it was a relatively quiet summer for shows with series like Disney + What if …? And Monsters at work The burden is on the shoulders. The company has streamed two blockbuster movies, Black widow And Jungle Cruise, But the original film was not a strong point.
Things are looking much brighter for the fall. Disney + is streaming Shang-chi On November 12, a show like this is being launched Hockey And Book of the dumb fat, And is expanding in countries like South Korea. All this can increase customers and visitors. Whether there’s enough running content and expansion to get Disney + back on track – especially when the company Back at the theater – at the premiere of the first movie.
This was not the only long-term plan. Chepek teased Disney’s chances Metaverse Which will involve the character of the company and coordinate both the physical and the virtual world. However, the CEO insisted that it was a long-term goal and did not share timelines or other technical details. For now, this is one more counter-effort Meta rebranding of Facebook Than a real project.
All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you purchase something through one of these links, we can earn an affiliate commission.