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Disney + gains where Netflix loses. On Wall Street this was not what they expected

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he feels the breath of competition on his neck more and more. The first quarter of 2022 brought serious losses to the current market leader. After the platform announced that instead of gaining new users, it lost 200,000 users (which is related to, among others, withdrawal from the Russian market and the growing number of various streaming services), the value of the company’s shares dropped drastically – it was lost in just one night yes, $ 122 million. Meanwhile + is growing dynamically.

Netflix is ​​falling, Disney + is growing stronger

Disney + gained 7.9 million new users in the first quarter of 2022. Such a turn of affairs was not predicted by Wall Street experts, who assumed that the number would amount to “only” five million – he reports. At the moment, therefore, the Disney + platform has 137.7 million users around the world.

If we take into account that Disney also owns streaming services such as ESPN Plus and Hulu, it turns out that the entire company reached the level of 205 million customers in the same period. At the same time, Netflix warns shareholders that it is forecasting the loss of another two million users.

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Disney + boss Bob Chapek said that the platform is on the right track to achieve its goal by 2024 and gain from 230 to 260 million users. CFO Christine McCarthy is a bit more cautious, as she believes that in the second half of the year the gains will not be as large. On June 14, the platform will start operating on new European markets, including Poland.

Disney also said in a recent report that it has terminated a prior agreement to ensure that “the company will be able to use the content first as part of its own direct customer service.” The website informs that although no specific names were given, it was probably an earlier agreement with Netflix, thanks to which series from the Marvel universe such as “Daredevil”, “Jessica Jones”, “Luke Cage”, “Iron Fust” were available on the platform, “The Defenders” or “The Punisher”.

Disney + offers more and more titles designed for adult viewers and introduces more and more advanced parental control settings. Chapek said that more than half of the existing users of the platform are families without children and plans to continue working on creating the most diverse offer possible for different audiences.

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Source: Gazeta

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