Disney+ Slowing Streaming Growth as they Report Poor Numbers

Disney+’s bullish run came to an end as the streaming service recorded below numbers than they projected.

The streamer added just 2.1 million subscribers in its fourth quarter, giving it a total of 118.1 million customers.

According to CNBC, the company added 2.1 million Disney+ subscribers to reach a total of 118.1 million, in line with Disney’s estimates. During the Goldman Sachs Communacopia Conference in September, CEO Bob Chapek said the segment’s growth had “hit some headwinds” and that Disney expected to add “low single-digit millions” of streaming subscribers in the fourth quarter.

Disney’s streaming-oriented Direct-to-Consumer division also lost $630 million (versus $374 million a year earlier) due in part to extra spending on production, marketing and “technology costs.”

These were expected due to the growing service, but they suggest Disney+ isn’t yet a net positive for Disney two years after launch.

The company’s chief Bob Chapek still confident that the company would hit subscriber targets (over 230 million users by September 2024) and turn a profit.

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