Business

Disney announces Disney+ launch in Latin America for November and reports 57.5 million subscribers on the service

Disney's streaming services, that comprise Disney+, Hulu and ESPN+, reached 100 million paid subscribers, reports the company in its fiscal third quarter results this Tuesday

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04.Aug.2020 18:01 BRT
UPDATED 05.Aug.2020 11:22 BRT

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In terms of revenues, Disney’s Direct-to-Consumer and International segment was the only one reporting growth on a year-ver year comparison; Media Networks; Parks, Experiences and Products; and Studio Entertainment reported losses;
All of the company’s streaming services (Disney+, Hulu, and ESPN+) reached 100 million paid subscriptions in this fiscal third quarter;
Disney+ hit 57.5 million paid subscriptions as of the end of the quarter (June 27);
As of Monday, August 3rd, Disney+ reached 60.5 million paid subscribers, CEO Bob Chapek revealed during the conference call.

Disney reported its fiscal third quarter earnings this Tuesday. As the entertainment and media giant continues to feel the hit of the coronavirus pandemic on its parks and experiences businesses, general revenues reached $11.78 billion, against $12.37 billion expected by the market.

SPECIAL COLLECTION – STREAMING GIANTS BATTLE FOR LATIN AMERICA

“Despite the ongoing challenges of the pandemic, we’ve continued to build on the incredible success of Disney+ as we grow our global direct-to-consumer businesses,” said CEO Bob Chapek. “The global reach of our full portfolio of direct-to-consumer services now exceeds an astounding 100 million paid subscriptions – a significant milestone and a reaffirmation of
our DTC strategy, which we view as key to the future growth of our company.”

Chapek also disclosed that Disney+ will officially launch in Latin American markets as early as November. According to what the company informed in its previous quarter results, the service was set to roll-out in Brazil and Latin America in “late 2020”.

Disney’s streaming services, which comprise Disney+, Hulu, and ESPN+ reached 100 million paid subscribers, according to the company. From these, more than half – 57.5 million subscriptions – belong to Disney+, a number reached as of June 27, less than a year since its global launch.

Chapek added during the earnings call that as of Monday, August 3rd, Disney+ reached 60.5 million paid subscribers, approaching its goal of 60 million to 90 million subscriptions forecasted to 2024, four years early.

“The most significant impact in the current quarter from COVID-19 was an approximately $3.5 billion adverse impact on operating income at our Parks, Experiences and Products segment due to revenue lost as a result of the closures,” Disney stated this Tuesday. While the company saw its results on each business unit decrease in a year-over-year comparison, its direct-to-consumer and international segment was the only one reporting growth. Disney’s DTC segment hit 3.97 billion in revenues, a growth of 2% YoY.