Disney Plus Hits 103.6 Million Subscribers, as Rapid Growth Cools

The jets kept firing for Disney Plus, which reached 103.6 million subscribers worldwide as of April 3, the company reported — although the growth was not as torrid as Wall Street hoped.

The Mouse House’s flagship streaming service packed on 8.7 million global customers in the most recent quarter (up from 94.9 million at the start of 2021). At its March 9 annual shareholders meeting, the company boasted that Disney Plus had surpassed 100 million subs.

Disney Plus’ continued but slowing growth came amid the service’s first price hikes: In the U.S., for example, the SVOD package went up a buck, to $7.99/month, as of March 26.

That said, the Disney Plus average monthly revenue per paid subscriber continued to drop in the period: That was $3.99 for the quarter ended April 3, down 29% from the year prior (and just a hair off the prior quarter’s $4.03). Disney noted that the global numbers include Disney Plus Hotstar, available in India and Indonesia, which carries a significantly lower ARPU than Disney Plus in other markets.

Disney Plus, the streaming home for movies from Pixar, Marvel, Lucasfilm and Disney as well as a slate of original series and films, had the wind at its back in 2020 with the global pandemic fueling consumer demand for the service.

Last December, Disney issued a dramatic upward revision on its forecast for Disney Plus, projecting 230 million to 260 million total paid subscribers by September 2024. Two years ago, the company told Wall Street it expected 60 million-90 million Disney Plus customers by that time.

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