Disney+ now boasts 118.1 million subscribers. The tally has been confirmed in The Walt Disney Company’s earnings report for its fourth quarter and fiscal year ended October 2, 2021, which shows that the streaming service gained 2.1 million subscribers in the last quarter and 44.4 million subscribers in the last 12 months. Disney+ only launched two years ago on November 12, 2019.
Operating losses increased from $0.4 to $0.6 billion partially because of Disney+, however. This was due to expansion efforts such as higher programming and production.
The higher loss at Disney+ was due to higher programming and production, marketing and technology costs, partially offset by increases in subscription and Premier Access revenues. Higher subscription revenue reflected subscriber growth and increases in retail pricing. Higher Premier Access revenue was due to two releases in the current quarter, Black Widow and Jungle Cruise, compared to one release in the prior-year quarter, Mulan. The increases in costs and subscribers reflected the ongoing expansion of Disney+.
“This has been a very productive year for The Walt Disney Company, as we’ve made great strides in reopening our businesses while taking meaningful and innovative steps in Direct-to-Consumer and at our Parks, particularly with our popular new Disney Genie and Magic Key offerings,” said Bob Chapek, Chief Executive Officer, The Walt Disney Company.
“As we celebrate the two-year anniversary of Disney+, we’re extremely pleased with the success of our streaming business, with 179 million total subscriptions across our DTC portfolio at the end of fiscal 2021 and 60% subscriber growth year-over-year for Disney+. We continue to manage our DTC business for the long-term, and are confident that our high-quality entertainment and expansion into additional markets worldwide will enable us to further grow our streaming platforms globally.”