Disney+ overtakes netflix in total subscribers. $7.99 subscription in december

The American OTT platform Disney+, owned by the Walt Disney Company, has officially surpassed Netflix in the number of Steam subscribers.

Launched in November 2019, Disney+ mainly offers content from various brands and banners under the name The Walt Disney Company. Movies and TV shows from brands like Disney, Pixar, Marvel and Star Wars are also hosted on the Steaming platform with special permission.

According to statistics from the last quarter, the number of Disney+ streaming subscribers increased by 14.4 million, bringing the total number of users to 221 million. Industry and marketing experts expected Disney Plus to add 10 million streaming subscribers through new releases on the platform.

The series Obi-Wan Kenobi, a character from the popular series Star Wars, and the all-female series Ms. Marvel has increased the demand for subscriptions on the OTT platform. While Disney Plus managed to consolidate its market position with subscriber growth, American online streaming giant Netflix lost nearly 1 million subscribers in the April-July 2022 period. At the end of the second quarter, Netflix’s total streaming subscribers reached 220.7 million. Netflix, now led by Reed Hastings and Ted Sarandos, has faced massive competition from rival streaming platforms and a massive drop in subscribers over the past few months.

In the first quarter of this fiscal year, Netflix reported a drop of 200,000 subscribers. This is the first time in the last 10 years that the company has seen such a drop in the number of its users. In the second quarter of the fiscal year, the production company predicted a decrease of 2 million subscribers. Netflix CEO Reed Hastings said the lower-than-expected number was a relief. According to him, if there is morale in the team, then a low amount of bad news is a good sign for business. Asked what could prevent further subscription drops, Reid Hastings said it’s “weirder things.” “Stranger Things” is an American science fiction television series created with a flavor of drama and horror. This series started in 2016 and has fans all over the world.

Distributed by Netflix, Stranger Things aired its fourth season between May 27 and July 1, 2022. Along with Stranger Things, the critical audiences of shows like The Crown and Ozark helped Netflix lose more subscribers this quarter.

After the start of Russia’s special military operation in Ukraine, Netflix, along with major technology companies, decided to partially or completely withdraw their business from Russia. The shutdown of the streaming service in Russia led to a sharp drop in Netflix subscribers, as the streaming company lost nearly 700,000 users from the country.

In the midst of this crisis, Ted Sarandos of Netflix said a few weeks ago that the company plans to introduce a cheaper subscription level through advertising. Disney+ announced this week that it will offer a cheaper, ad-supported subscription plan until December 2022. According to the media release, the cheapest plan with ads costs $7.99 per month.