Disney Plus has surged beyond another milestone in its remarkable growth, reaching 129.8 million paying subscribers globally by the end of 2021, with 11.8 million subscribers being accounted for in the company’s financial quarter ending 31 January 2022 (Q1 FY2022). This takes the streaming giant well beyond 130 million subscribers worldwide.
The figures were among the first quarter results for fiscal year 2022 announced by The Walt Disney Company yesterday, which showed total revenue growth for the quarter of 34 per cent to just shy of a $22 billion across its media and entertainment distribution, and parks experiences and products divisions.
The company’s total streaming subscriber based is reported at 196.4 million, encompassing Disney Plus, Hulu, and ESPN Plus. The media and entertainment distribution division, of which the streaming business is a part, accounted for $14.6 billion of the overall revenue figure for the first quarter, up 15 per cent on the same quarter in FY2021.
“We’ve had a very strong start to the fiscal year, with a significant rise in earnings per share, record revenue and operating income at our domestic parks and resorts, the launch of a new franchise with Encanto, and a significant increase in total subscriptions across our streaming portfolio to 196.4 million, including 11.8 million Disney+ subscribers added in the first quarter,” said Bob Chapek, CEO, The Walt Disney Company. “This marks the final year of The Walt Disney Company’s first century, and performance like this coupled with our unmatched collection of assets and platforms, creative capabilities, and unique place in the culture give me great confidence we will continue to define entertainment for the next 100 years.”
The news comes as Disney also announced plans to increase spend on content for its media and entertainment distribution division this quarter (Q2 FY2022) by up to $1 billion versus the same period last year. The company had committed to increase spending on content to $33 billion during this financial year in November’s annual report, with the company reportedly on track to maintain that target.