Disney+ Subscriber Growth Slows Due To ‘Headwinds’
In the June quarter, Disney+ subscriber numbers beat Wall Street estimates, with the streaming service adding over 12 million subs, to reach 116 million worldwide.
While these are impressive stats to throw up within two years of operation, Chief Executive Bob Chapek warned investors at a Goldman Sachs conference not to expect subscriber growth to “be a steady march from quarter to quarter”.
With this, he announced Disney+ growth had, indeed, slowed in the current September quarter, predicting figures in the “low single-digit millions.”
Disney stock fell 5 per cent after Chapek made the comments. Chapek pointed out that other streaming services such as Netflix also experienced a slow-down in growth, and that Disney+ is planning to push into new markets in the new year, which will again bolster growth.