May 11, 2022
Disney sees better than expected streaming growth
Walt Disney has reported another jump in sign-ups for its streaming services, escaping the slowdown that hit arch rival Netflix. "A huge sigh of relief for Disney", said Paolo Pescatore, PP Foresight analyst. Disney has poured investment into its streaming services, seeing them as key to the future of its business, as movie attendance wanes and more people turn from traditional television. Disney executives said subscriber growth over the last six months was stronger than they had expected. Overall Disney revenues in the first three months of the year rose 23% from a year ago to $19.25bn, boosted by its amusement park business, which saw revenues more than double.
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