Disney reported Q2 financial results Thursday, announcing that DIsney+ has reached 103.6 million paid subscribers, up from 94 million in the previous quarter, after Disney shared the service had surpassed 100 million subscribers at its annual shareholders meeting in March. Analysts were expecting that number to be closer to 110 million.
Revenue for the quarter came in at $15.6 billion, again missing industry forecasts of $15.87 billion.
“Results at Disney+ were comparable to the prior-year quarter as an increase in subscribers was largely offset by higher programming and production, marketing and technology costs. The increases in subscribers and costs reflected the ongoing expansion of Disney+ including launches in additional markets,” the company shared in its report.
Marvel content helped to pull in more subscribers for the quarter. WandaVision was a huge hit for the streaming service. The series was streamed by 1.6 million households during its premiere weekend. In March, The Falcon and The Winter Soldier became the streamer’s most-watched series premiere ever with 1.7 million households streaming the premiere.
Source: Cord Cutters News