Disney+ Hits 73.7 Million Subscribers Globally; India Accounts For 25% of All Users

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INTRO: At its Q4 earnings call earlier this week, The Walt Disney Company announced that its streaming service, Disney+, had garnered 73.7 million subscribers globally as of October 3rd.

It is a rise of over 16.2 million from the previous quarter when the service was said to possess had 57.5 million subscribers. Overall, the company’s streaming portfolio, which incorporates the likes of Hulu and ESPN+, now has quite 120 million premium users, the corporate said.A large chunk of the aforesaid growth came from Disney+ Hotstar, which launched as a combined entity in April in India, followed by a September launch in Indonesia as well.

According to company executives quoted by Protocol, India alone accounts for 25 percent of all Disney+ subscribers. The company, however, also acknowledged that the typical monthly revenue per paid subscriber for Disney+ Hotstar in India and Indonesia is significantly less than the subscription charges in North America and Europe.

Speaking about the expansion of Disney+ within the US and round the world, CEO Bob Chapek said that the recognition of the service has exceeded even the company’s own expectations. “(It has been) a real bright spot amidst the pandemic,” he added. Before its launch earlier last year, the company, then headed by CEO Bob Iger, predicted that Disney+ would have 60-90 million subscribers by 2024. Going forward, the company expects to get a significant number of new subscribers from its Latin America launch, which is slated for next Tuesday.

In terms of the financials, the corporate earned $14.7 billion in revenues during the quarter, an enormous chunk of which came from Disney+. The number is significantly below the $19.1 million the corporate earned during an equivalent quarter last year, largely on account of the pandemic and therefore the associated slowdown in its theater and theme park businesses.

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