Disney+ reports 103M subscribers in Q1 2021 as growth slows
Disney+ had 103.6 million paid subscribers as of April 3, 2021, missing Wall Street growth expectations for the first quarter.
Credit: Disney
The service added 8.7 million global subscribers to its count in the first three months of 2021, Disney reported in a quarterly earnings update on Thursday. Previously, Disney+ reported that it had 94.9 million subscribers at the start of 2021. At its annual shareholders meeting, the company boasted that it had topped 100 million subscribers.
Prior to the company's first quarter earnings report, analysts had predicted the service coming in at 109.3 million subscribers, Variety reported.
The slower-than-expected growth during the quarter came after the first price hike for Disney+. In the U.S., the service bumped its monthly price tag a dollar higher to $7.99.
Additionally, the average monthly revenue per paid subscriber also dropped in the first quarter to $3.99, down 29% year-over-year. Disney noted that its global numbers include Disney+ Hotstar, which is available in some markets and has a lower average revenue per user.
Disney CEO Bob Chapek said he expects subscriber growth to pick up against as the pandemic subsides and movie and TV production returns to normal, which will allow new content to come to the platform.
Throughout 2020, Disney+ saw exceptional growth, adding 16.5 million customers in just 10 days at one point during the pandemic. In the midst of coronavirus restrictions, the company also restructured its business to focus on online streaming.
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Credit: Disney
The service added 8.7 million global subscribers to its count in the first three months of 2021, Disney reported in a quarterly earnings update on Thursday. Previously, Disney+ reported that it had 94.9 million subscribers at the start of 2021. At its annual shareholders meeting, the company boasted that it had topped 100 million subscribers.
Prior to the company's first quarter earnings report, analysts had predicted the service coming in at 109.3 million subscribers, Variety reported.
The slower-than-expected growth during the quarter came after the first price hike for Disney+. In the U.S., the service bumped its monthly price tag a dollar higher to $7.99.
Additionally, the average monthly revenue per paid subscriber also dropped in the first quarter to $3.99, down 29% year-over-year. Disney noted that its global numbers include Disney+ Hotstar, which is available in some markets and has a lower average revenue per user.
Disney CEO Bob Chapek said he expects subscriber growth to pick up against as the pandemic subsides and movie and TV production returns to normal, which will allow new content to come to the platform.
Throughout 2020, Disney+ saw exceptional growth, adding 16.5 million customers in just 10 days at one point during the pandemic. In the midst of coronavirus restrictions, the company also restructured its business to focus on online streaming.
Stay on top of the latest Apple news right from your HomePod. Say, "Hey, Siri, play AppleInsider," and you'll get latest AppleInsider Podcast. Or ask your HomePod mini for "AppleInsider Daily" instead and you'll hear a quick update direct from our news team. And, if you're interested in Apple-centric home automation, say "Hey, Siri, play HomeKit Insider," and you'll be listening to our newest specialized podcast in moments.
Comments
Heh
“ The slower-than-expected growth during the quarter came after the first price hike for Disney+. In the U.S., the service bumped its monthly price tag a dollar higher to $7.99.”
These two statements contradict each other because the price hike actually came during the last week of March (i.e. the very end of the first three months). That should have motivated subscribers to get in front of the increase. The fact that it didn’t proves that it’s a bullshit excuse to blame the low numbers on. The firing of Gina Carano probably played a lot bigger role here than many people want to admit.
now they have a show with John stamos coaching high school girls……
Apple programming is so much better
I mean look 100 million is equal to appr. 300 million people, 1 subscription is a Family of 5/4 or 2 or 1.
So, that's like saying subscriptions are at 4 billion and slowing! I know it's not 4 billion but an audience/subscription base that is the population of the DAMN UNITED STATES!! Gees wtf!
Laters...
Left to myself, I would not have subscribed to Disney+ since there isn't much content there that I like.
As far as subscription cost is concerned, Disney is right, because the average revenue does go down. I pay the equivalent of ~$2.70 as a monthly subscription for all Disney+ content + whatever Hotstar already had.
I feel like I should go watch both Wall Street movies now....