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Disney Plus beats expectations again

Streamer is half way to the company's own target 230 million to 260 million subscribers by 2024

Disney Plus has again beaten analysts’ expectations, adding 12.4 million net new subscribers to reach 116 million subscribers worldwide as of 3rd July.

Wall Street analysts had forecast the streamer would reach 115 million for the period.

Disney said its direct-to-consumer business, which includes Disney Plus, Hulu and ESPN Plus, remains a key driver for the company, with revenue of $4.25 billion, up 57 per cent compared to the same period in 2020.

Disney Plus is now available in 61 territories and will launch in South Korea, Taiwan and Hong Kong in November. It is half way to the company’s own target 230 million to 260 million subscribers by 2024.

“I feel really great about our subscriber trajectory” on Disney Plus, Disney CEO Bob Chapek told analysts. He added that he is “really pleased with churn” given recent price increases and that in many territories churn has declined even as prices have increased.