The Walt Disney Company reported earnings for its second fiscal quarter, and it added more subscribers than analysts expected to its family of streaming services. Specifically, Disney+ added 7.9 million subscribers last quarter to hit 137.7 million total, Hulu added 300.000 subscribers to reach 45.6 million subscriber, and ESPN+ added 1 million subscribers to reach 22.3 million.
Revenues for the quarter and six months grew 23% and 29%, respectively, despite a $1 billion reduction for the amount due to "a customer to early terminate license agreements for film and television content delivered in previous years in order for the company to use the content primarily on its direct-to-consumer services,” the company explained.
At the same time, The Walt Disney Company’s media and entertainment distribution division, which includes streaming, had revenues of $13.5 billion in the quarter, up 9% from a year ago. Streaming led the way, with revenues up 23% to $4.9 billion. Meanwhile, linear networks were up 5% to $7.1 billion.
Visit Senal News to read this article.
