Disney+ hits nearly 123 million subscribers

Disney, which also owns the Hulu streaming platform, ended the fourth quarter with a total of 174 million Disney+ and Hulu subscribers.

CEO Bob Iger said that Disney’s ad-supported tier is responsible for approximately 60% of all new subscribers in the US. He added that the ad-tier – which was launched in December 2022 – is responsible for 37% of subs in the US and 30% globally.

The entertainment giant reported revenues of $22.57bn in its fourth quarter, which ended Sept. 30, up 6% from the same quarter a year ago. Income was $948m, down 6% from a year ago.

Its entertainment division was a bright spot, taking $10.8bn in revenue during the quarter, an increase of 14% compared with the same period a year earlier.

The entertainment segment’s operating income totalled $1.1bn, quadruple the same quarter a year earlier.

The company released both Deadpool & Wolverine and Inside Out 2 in the quarter, which both performed strongly at the box office.

“This was a pivotal and successful year for The Walt Disney Co., and thanks to the significant progress we’ve made, we have emerged from a period of considerable challenges and disruption well positioned for growth and optimistic about our future,” Iger said in a statement.