In its latest quarterly earnings release, Disney informed that Disney+, its new SVOD OTT launched in the US in November, now records 54.5 million subscribers. The platform is currently also available in the Netherlands, Australia, New Zealand, the UK, Ireland, France, Germany, Italy, Spain, Austria, Switzerland and India, and, recently, Disney confirmed that its launch in Latin America will also take place this year.
Hulu ended Q1 2020 with 32.1 million subscribers in the US, 27% more than the 25.2 million recorded at the end of the same period 2019, and 1.7 million more subscribers than the previous quarter. Bob Iger, former CEO of Disney, recently announced the platform’s international expansion plans, initially stated for 2021. ESPN+, the company’s remaining platform, ended Q1 2020 with 7.9 million subscribers.
Financially, Disney recorded revenues valued at USD 18 billion, 21% more than a year ago. Disney has also informed that its net profit was reported in USD 474 million, a figure that dropped in a 91%, in relation to the Coronavirus effect in its operations. The company’s Media Networks division increased revenues by 28% to USD 7.3 billion, while the Cable Networks division reached USD 4.4 billion and increased its revenues in the quarter by 17%, while the company’s Broadcasting division also recorded a 28% increase in its revenues, currently valued at USD 2.8 billion.
‘While the COVID-19 pandemic has had an appreciable financial impact on a number of our businesses, we are confident in our ability to withstand this disruption and emerge from it in a strong position’, said Bob Chapek, Chief Executive Officer, The Walt Disney Company.