Disney Reports Strong Subscriber Growth, Revenue Rises

Key Metrics

• Total Disney+ subscribers: 164.2 million
• Adjusted full-year EPS growth target: 30%
• New Disney+ subscribers in fiscal Q2: 79 million
• Disney+ subscriber growth in fiscal Q3: 7 million

Financial Performance

The Walt Disney Company reported on Wednesday that its total revenue for the fiscal second quarter rose to $23.5 billion, a 23% increase year-over-year. The company's earnings per share (EPS) came in at $1.06, exceeding analyst expectations.

Subscriber Growth

Disney+ continued to drive strong subscriber growth for the company. The streaming service added 79 million new subscribers in the fiscal second quarter, bringing its total subscriber base to 152.1 million. This growth was driven by the release of new content, such as Marvel's "Moon Knight" and Disney Pixar's "Turning Red."

Content Strategy

Disney has been investing heavily in its content strategy to fuel the growth of Disney+. The company plans to release 50 new original series and films on the platform in 2023. This includes highly anticipated titles such as Marvel's "She-Hulk" and Disney Pixar's "Elemental."

Competition

Disney+ faces increasing competition from other streaming services, such as Netflix and Amazon Prime Video. However, the company is confident that its strong brand and exclusive content will continue to attract new subscribers.

Conclusion

Disney reported strong subscriber growth and financial performance in the fiscal second quarter. The company's focus on content and its continued investment in Disney+ position it well for continued success in the streaming market.