Disney is celebrating a successful third quarter with significant news for its streaming platforms. Disney+, Hulu and ESPN+ have become profitable for the first time.
Disney’s earnings jumped significantly, aided by the success of “Inside Out 2”, which is now the highest-grossing animated film of all time.
The popularity of the sequel led to a surge in Disney+ subscriptions. Over 1 million new subscribers tuned in to watch the original “Inside Out.” The 2015 film garnered more than 100 million views on Disney+ following the release of “Inside Out 2.”
Revenue from Disney’s streaming services increased by 15%. The company had not expected this sector to become profitable until the fourth quarter, making the third quarter earnings report a pleasant surprise.
Looking ahead, Disney plans to further capitalize on its streaming services, which means consumers can expect to pay more. Disney is set to raise subscription prices across all platforms this fall, with most plans increasing by $1 to $2 per month. Since its launch in 2019, Disney+ has seen its subscription price double due to gradual price hikes.
