Disney+ at 116 million subs as company announces further SEA expansion

Disney+ is to roll out in South Korea, Hong Kong and Taiwan this November.

These next Asia Pacific launches for the Disney-owned global streaming service were announced at the company’s Q3 earnings call, where it was also revealed that the existing service in Japan will expand in October to include new general entertainment content.

The service, which launched in late 2019, is currently available in 61 countries across North America, Latin America, Europe and Asia Pacific, and has produced global hits in series such as The Mandalorian and WandaVision.

“The response towards Disney+ across Asia Pacific has exceeded our expectations, as consumers seek diverse entertainment content and are drawn to our portfolio of brands and franchises,” said Luke Kang, president, The Walt Disney Company Asia Pacific.

“We are pleased with the subscriber growth and partnerships forged in markets, and look forward to engaging with more consumers across the region – through unparalleled storytelling, creative excellence and cutting-edge content delivery.”

Streaming boom

These new launches come as Disney revealed its flagship streamer hit 116 million global subscribers last month, more than double the 57.5 million figure from this time last year.

Its US-based services also saw growth, with Hulu rising 21% to 42.8 million subscribers and ESPN+ jumping 75% to 14.9 million, for a total 174 million subscribers across the Disney streamers.

Disney’s total DTC revenue, meanwhile, rose by 57% to $4.3bn, with operating losses dropping from $600m to $300m.

Total revenue for the Mouse House, across all its businesses, stood at $17bn, an increase of 45% over last year’s Q3, as the company’s theme parks and feature productions begin to recover from the pandemic.

Earnings per share, meanwhile, outperformed Wall Street expectations, reaching 80 cents, up from just eight cents at the same time last year, and way above the 56 cents predicted by analysts.