Disney Plus has reported 7.9 million new subscribers in Q2 2022, making a total of 87.6 million worldwide.
Just when Netflix witnessed its biggest dip in subscriber count and revenue in the last 10 years, its competitor Disney Plus garnered almost 8 million subscribers in the same quarter. In the Q2 earnings report, Disney Plus announced to have added 7.9 million new subscribers on board, making a total of 87.6 million worldwide. These numbers are excluding the 50.1 million Disney Plus Hotstar subscribers in India.
Disney Plus gains 8 million subscribers
According to the company, streaming offerings including Hulu and ESPN have also grown to more than 205 million, up by 196.4 million. Disney is further earning more per subscriber as its average monthly revenue per paid user has increased to $6.32 from $6.01. The company gives credit to an "increase in retail pricing and a lower mix of wholesale subscribers" for this jump.
However, Disney believes that it is still losing money due to the high cost of production, advertising and technology. It does not want to increase the subscription cost, which was partially responsible for the Netflix subscriber dip, hence, introducing an ad-supported tier makes more sense. Disney Plus has already confirmed that it will introduce an ad-supported tier in 2023.
This is something Netflix is planning to release in the last three months of 2022 along with paid password sharing feature.