Disney reported quarterly earnings for the first time since the November launch of streaming service Disney+.
Walt Disney Co. on Tuesday said Disney+ has grown to 26.5 million subscribers since its Nov. 12 launch, a positive omen for Bob Iger’s high-stakes bet on the future of the entertainment industry and Disney’s place within it.
Disney has declined to disclose viewership numbers for its shows, but “The Mandalorian” has been widely well-received, thanks in part to the viral response to the character popularly known asNetflix remains the leading subscription streaming service, with more than 167 million paying members around the world. The Los Gatos-based company launched its streaming platform more than a decade ago and is available globally. Disney+ has so far launched in the U.S.
Profits from the company’s films were $948 million, more than double the first quarter last year, boosted by the performance of “Star Wars: The Rise of Skywalker” and “Frozen 2.” The latest “Star Wars” film, directed by J.J. Abrams, grossed $1.06 billion at the global box office, adding to Disney’s dominance of the industry in a year when it also released “The Lion King” and “Avengers: Endgame.
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