Disney+ adds 14.4 million new subscribers, will offer ad-supported subscription plans

Netflix has dropped subscribers for two straight quarters, while rival Disney reported subscriber gains of more than 14 million. Disney announced its Q3 FY22 financial report as of July 2, with revenue of $21.5 billion, an increase of 26%, and a profit of $1.41 billion. The streaming service Disney+ added 14.4 million subscribers, almost all from outside North America. Chief executive Bob Chapek attributed the company’s strong results to the performance of its U.S. theme parks, a surge in live sports viewership and subscriber growth for its streaming service. Despite the growth in subscribers, Disney+, Hulu and ESPN+, Disney’s three major streaming services, lost as much as $1.1 billion, Mickey Mouse announced a price increase and launched an ad-supported subscription plan: the ad-free Disney+ monthly fee rose from $7.99 to $10.99 , which costs $7.99 a month with ads; Hulu’s ad-free subscription increases from $12.99 to $14.99 a month, and from $6.99 to $7.99 a month with ads. The streaming package will remain the same at $19.99 per month, including ad-free Disney+ and Hulu and ad-supported ESPN+.

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