Disney+ rises to 152.1M subscribers, topping Netflix

Walt Disney edged past Netflix Inc. with 221 million streaming customers and announced it would hike prices for customers who want to watch Hulu or Disney+ without commercials.

The media behemoth will raise the monthly cost of Disney+ without advertising by 38% to $10.99 in December 2022, when it begins to offer a new option that includes ads for the current price.

Shares of Disney increased 6.9% in after-hours trading to $120.15 on Wednesday, August 10, 2022.

In 2017, Disney staked its future building a streaming service to rival Netflix as audiences moved to online viewing from traditional cable and broadcast television.

Five years later, Disney has now edged past Netflix in total streaming customers. Disney added 14.4 million Disney+ customers, beating the consensus of 10 million expected by analysts polled by FactSet, as it revealed the “Star Wars” series “Obi-Wan Kenobi” and Marvel’s “Ms.Marvel.”

Combined with ESPN+ and Hulu, Disney said it had 221.1 million streaming subscribers at the end of the June quarter of 2022. Netflix, Disney’s direct rival, said it had 220.7 million streaming subscribers in total.

To attract new customers, Disney will offer an ad-supported version starting on December 8, 2022, for $7.99 per month, the same price it now charges for the ad-free version. Depending on the plan, Hulu’s subscription prices will rise by $1 to $2 per month.