US entertainment giant Disney said Thursday subscriptions to its streaming service hit 116 million as it beat earnings expectations in the third quarter.
Disney+ subscribers more than doubled from the same period a year earlier, while its Hulu and ESPN offerings also attracted more members, the company said.
Disney reported a net income of $923 million in the quarter ending July 3, compared with a loss of about $5 million during the same period last year when the pandemic closed its theme parks and other businesses.
“We ended the third quarter in a strong position, and are pleased with the company’s trajectory as we grow our businesses amidst the ongoing challenges of the pandemic,” chief executive Bob Chapek said in the earnings release.
Disney sees positive signs for business as streaming growth cools
© 2021 AFP
Citation:
Disney+ subscriptions climb as earnings beat expectations (2021, August 12)
retrieved 12 August 2021
from https://techxplore.com/news/2021-08-disney-subscriptions-climb.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no
part may be reproduced without the written permission. The content is provided for information purposes only.
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Technology News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsAzi is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
