Despite inflation, people are spending money at Disney parks. Photo by Joseph Prezioso/Anadolu Agency via Getty ImagesDisney+, Disney’s streaming service added 14.4 million new subscribers in the three-month period ending July 2, bringing its count to 152.1 million, passing analysts’ expectations by 4.6 million users, the company said in a statement Aug. 10. The total subscriber count across all Disney-owned subscription services, including Hulu and ESPN+, reached 221 million, just squeaking past Netflix’s 220.7 million, which reported losing subscribers in July.
Disney’s revenues grew by 26 percent compared to the same period last year, beating analysts’ expectations. The growth was powered by increased attendance at Disney theme parks, live sporting events viewership on ESPN and new streaming subscribers, Bob Chapek, Disney’s CEO, said.
Disney parks, experience and products revenues increased 70 percent since the same period last year, reaching $7.4 billion. While inflation played a small role in the growth, increased guest spending and visitor numbers account for the majority, the earnings report said.
