In all, Disney's streaming platforms (Disney+, Hulu and ESPN+ for sports) now have 221 million subscribers, more than Netflix, the industry veteran which saw its number of paid subscribers drop to 220.67 million at the end of June.

The entertainment giant, which took more than 6% on the stock market during electronic trading after the close, also unveiled a new cheaper Disney + subscription formula, with advertising, according to a press release also published on Wednesday.

In all, Disney saw its revenue increase 26% year-on-year to $21.5 billion for the third quarter of its staggered fiscal year, a figure also above analysts' expectations.

Its net profit increased by half over one year, to 1.4 billion dollars.

Its amusement parks and merchandise have reaped the full benefits of the resumption of in-person activities as the pandemic loosens its grip on daily life around the world.

The segment generated $7.4 billion in revenue, 70% more than a year ago.

"Sigh of relief"

"Disney's stock, like that of many media and technology companies, has taken a beating this year," noted Insider Intelligence's Paul Verna.

"Its core businesses, including amusement parks and movie theaters, are rebounding but still facing headwinds, including the unusually lukewarm reception of Pixar's latest cartoon, +Lightyear+," added the analyst.

Disney+, on the other hand, never ceases to delight the market.

"Investors will breathe a sigh of relief," said Paul Verna.

The platform's figures "will be seen as a sign of the good health of the market, especially after the poor results of Netflix and Comcast".

Launched in late 2019 as a cannonball on the streaming scene, Disney+ now captures more than 45% of U.S. streaming service users, behind YouTube, Netflix, Amazon and Disney-owned Hulu, according to Insider figures. Intelligence.

As the pandemic has hit the entertainment empire's in-person businesses hard, Disney+ has taken off, thanks in part to its massive catalog and blockbuster franchises.

The platform repeated its goal of reaching profitability and between 230 and 260 million subscribers by the end of 2024.

To achieve this, it must accumulate approximately 8.5 million new customers every three months.

The 14.4 million announced Wednesday bode well for his chances of getting there.

Star Wars and K-pop

For the current quarter, Bob Chapek, the boss of the American group, is counting on new programs to win over new customers, such as "She hulk: Avocate", the new series from Marvel studios, "Andor", a Star Wars series, and Disney's "Hocus Pocus 2" movie.

He also promised, during the conference call to analysts, a documentary series on BTS, the cult K-pop group.

The past quarter has been marked by doubts about the growth of major entertainment platforms, from Netflix to Facebook and video games.

Netflix thus lost nearly a million subscribers between March and June, after having already lost some in the first quarter, for the first time in its history.

Beyond new content, the industry veteran and its fierce competitor are now employing different strategies to grow their subscriber base and deal with the risk of saturation in the West.

Disney+ on Wednesday unveiled a new subscription plan with advertising, for the United States, at 8 dollars per month, which will be offered from December.

And Netflix, which is preparing a similar option after years of refusing this less prestigious solution, will also tighten the screw on the side of shared identifiers, which allow many people to access its content without paying.

© 2022 AFP