Exciting news, Disney enthusiasts! In a major announcement during Disney’s third-quarter earnings call, CEO Bob Iger shared that Disney’s streaming services are now profitable for the first time ever, with a delightful dose of optimism about future growth. This unexpected milestone, initially projected for a later quarter, seems to have been driven significantly by the success of ESPN+ alongside the ever-popular Disney+ and Hulu.
“Quarter 3 2024 marked a pivotal moment for our Direct to Consumer (DTC) streaming businesses, showing an impressive year-over-year improvement of over $550 million to reach $47 million,” the official earnings presentation reveals.
But that’s not all—Disney also disclosed upcoming price hikes across its streaming platforms starting October 17. The basic Disney+ plan will rise from $7.99 to $9.99 a month. In September, subscribers can also look forward to an ABC News Live playlist and a special collection tailored for preschoolers. Furthermore, a new bundle featuring Max, which launched just last month, adds to the exciting mix of content available.
Bob Iger encapsulated the positive sentiment on the earnings call, stating, “We’re witnessing increased consumption and growing popularity of our offerings, which empowers us with the pricing leverage we expected.”
Noteworthy successes like “Inside Out 2,” which became the highest-grossing animated film and attracted around 1.3 million Disney+ subscribers, contributed to the nearly billion-dollar increase in quarterly revenue compared to 2023. The synergy of exceptional content and a robust brand portfolio undoubtedly proves Disney’s formula for success as it navigates the streaming landscape.
Let’s hear from you, Disney fans! What do you think about these exciting developments? Share your thoughts in the comments below and don’t forget to share this story with fellow Disney lovers.
Source: UPI
