Aug 10, 2022

Disney plans ad-funded streaming and overtakes Netflix

The firm reported 221.1 million subscribers across its three streaming platforms at the start of July.That put it just ahead of Netflix, which has been losing accounts. Pandemic lockdowns provided a boost to streaming services like Disney, but the easing of Covid restrictions doesn't seem to be preventing it attracting new customers. The firm is also seeing strong interest from companies hoping to advertise on the new service, they said. Disney's subscriber gains have come at a hefty cost, with its streaming business losing $1.1bn in the quarter. Paolo Pescatore, analyst at PP Foresight, called it a "Pivotal moment in the streaming wars" saying Disney had more room to grow than arch-rival Netflix.

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