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Disney+ sees 112% jump in subscribers

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Disney+ is quickly becoming a significant player in the streaming wars, as the platform has grown its market share from 136 million subscribers to 152 million in the last year, an increase of 122%.

“Disney+ has been on a roll lately, thanks to its expansion into new markets,” said StockApps finance lead Edith Reads.

“The streaming service has added more than 14 million subscribers in Q2 2022, up from 7.9 mln from the first quarter. This growth is largely due to Disney+’s launch in 42 new country markets and 11 regions spanning Europe, Asia, and Africa,” she explained.

Growth outside N. America

Disney+ is now available in 101 countries and seeks to expand its foothold further. And while it did add 100,000 new subscribers in the US and Canada in Q2 2022, most of its gains were outside of North America.

That’s likely because it’s still relatively new in many international markets, and as more people learn about the service, they’re signing up in droves

In Q2 2022, Disney+ added 6 mln international subscribers, bringing its total to 49.2 mln. Disney+ Hotstar, which serves India and Southeast Asia, also picked up 8.3 mln subscribers, for a total of 58.4 mln.

Challenging Netflix dominance

Disney+’s growth is coming at a time when Netflix is shedding subscribers. The market leader now has 220.67 mln subscribers, a decline of 1.2 mln from the 221.64 mln it had at the first quarter’s end, according to StockApps data.

Though the drop appears small, it is significant considering how quickly the former is gaining ground.

Netflix’s saving grace is that it lost 970,000 subscribers during the second quarter. That was better than the 2 mln loss it projected for the quarter.

In Q1, the platform had lost 200,000 subscribers. That said, the streamer is confident it’ll add a million subscribers in Q3.

These losses have forced Netflix to overhaul its business. It has moved to make its operations leaner by laying off some 300 staff. Again, it has rethought its film strategy by focusing on fewer, but better projects. Additionally, it is fast-tracking its adoption of an ad-supported subscription tier.