Disney + continues to lead the pack of new streaming services, reaching 94.9 million subscribers in the quarter ending December 31, but average revenue per user plunged 28% from year-earlier levels. The subscriber growth was at the high end of analysts' estimates. ESPN+ is now at 12.1 million subscribers, nearly double the amount of a year ago, and Hulu rose 30% to 39.4 million subscribers across its on-demand service and the Hulu + Live TV bundle. With 4 million subscribers to the live bundle, Hulu is now the fifth-largest pay-TV operator in the U.S. The numbers were highlighted in the company's fiscal first quarter earnings report. Overall results exceeded Wall Street analysts' expectations despite taking a $2.6 billion hit to its theme parks business in the quarter due to the effects of Covid-19. Streaming has become the north star for Disney, and investors are rewarding its growth potential and overlooking the financial wreckage of 2020, but nearly every other part of its business has been badly disrupted by the pandemic. Related Story Disney FYQ1 Beats Street Despite $2.6B Parks Hit; Anticipates Another $1B In Covid Costs For Full Year Direct-to-consumer revenue in the quarter shot up 73% to $3.5 billion,… Read full this story
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