Disney+ has finally knocked Netflix off its streaming perch after the platform confirmed it had gained more subscribers than its rival for the first time since its launch in 2019.
The latest Disney+ figures show that they have added another 14.4 million subscribers, taking the giant to a total of 221.1 million. This has knocked Netflix back into runner up with 220.67 million subscribers.
Disney+ offers subscribers the likes of its classic Disney movies and Pixar offerings, as well as Star Wars spin-offs and Marvel’s catalogue. The platform also offers a raft of reality TV, including the hugely successful The Kardashians, charting the lives of the famous family, due to its ownership of Hulu.
Meanwhile, Netflix is coming off the back of the streaming success of its two part season of Stranger Things, starring Millie Bobby Brown, as well as the hugely popular likes of Squid Game, Bridgerton and Emily in Paris.
Despite the fact that Netflix gained a head start on Disney in the streaming wars, as it debuted in 2007 while Disney+ launched in 2019, Netflix has entered a rough patch this year.
The indomitable streaming giant this year made the shock announcement it had lost nearly a million subscribers in the last quarter.
However, Disney’s success may be equally short-lived as subscribers face a 38% price hike when the entertainment giant launches its confirmed ad-supported service in the US in December.
Disney+ will launch a new ad-funded service, which will still be charged at the current subscription rate of $7.99, but the charge for the ad-free service which subscribers currently enjoy will rise to $10.99 per month.
The firm plans to launch its ad-funded service outside the US next year and Disney bosses have said they don’t expect the rise in prices to put customers off over the long term.
Speaking about the recent success and forecast for Disney's streaming platform, chief executive Bob Chapek said: “We had an excellent quarter, with our world-class creative and business teams powering outstanding performance at our domestic theme parks, big increases in live-sports viewership, and significant subscriber growth at our streaming services.
“With 14.4 million Disney+ subscribers added in the fiscal third quarter, we now have 221 million total subscriptions across our streaming offerings.
“We continue to transform entertainment as we near our second century, with compelling new storytelling across our many platforms and unique immersive physical experiences that exceed guest expectations, all of which are reflected in our strong operating results this quarter.”
