Disney+ LogoSource: Disney

What you need to know

  • Disney+ has already surpassed 116 million subscribers.
  • The streaming service grew by 13 million subscribers in the last quarter alone.

Disney+ continues to grow as a major powerhouse in the streaming wars.

As reported by CNBC, the company hosted its Q3 2021 earnings call earlier today and, during the call, revealed that Disney+, the company's streaming service, has surpassed 116 million subscribers. That indicates a growth of over 13 million subscribers in just three months.

The company beat on subscriber estimates for Disney+, coming in at 116 million. StreetAccount estimated the company to report 114.5 million subscribers for its third quarter. The segment had 103.6 million in its fiscal second quarter.

Average monthly revenue per subscriber for Disney+ dipped 10% year over year to $4.16. The company attributed the drop to a higher mix of Disney+ Hotstar subscribers compared with the prior-year quarter.

Disney CEO Bob Chapek also revealed that Shang-Chi, the company's upcoming Marvel movie, will come to the streaming service after just 45 days in theaters.

Disney is also continuing to experiment with viewership habits and how it releases films following the coronavirus pandemic. The company will release "Shang-Chi" in theaters exclusively for 45 days before adding it to its streaming service.

"The prospect of being able to take a Marvel title to the service after going theatrical with 45 days will be yet another data point to inform our actions going forward on our titles," CEO Bob Chapek said during Thursday's earnings call.

In total, Disney now has over 174 million subscribers across Disney+, ESPN+, and Hulu. Chapek said that "what's really going to make the difference for Disney is our spectacular content, told by the best storytellers, against our powerhouse franchises."

Disney+ is quickly challenging Netflix, which is still the dominant streaming service in the world at over 200 million subscribers. While Apple does not release the exact number of subscribers for Apple TV+, a recent report estimates that it has surpassed 40 million subscribers.

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