Disney+ suffered its weakest quarterly growth since its inception

Profits from its theme parks fell far short of analyst expectations too

Despite new additions to its vast catalogue of movies and shows, including the critically acclaimed Black Widow, Disney has reported fewer new subscribers than it expected in the last quarter, which ended in early October.

The streaming service gained 2.1 million new subscribers, around 7 million less than the initially predicted 9 million figure ballpark. This was Disney+’s weakest quarterly growth since its inception two years ago. The streaming service currently sits at 118.1 million paid users in total.

Further, although all of Disney’s theme parks were open since the pandemic shutdown, profits from this division of the company fell far short of analyst expectations.

The underwhelming subscriber growth may be the reason why Disney is offering one month of Disney+ for $1.99 for Disney+ Day. The subscription service usually costs $11.99/month.

On November 12th, Disney will reveal a slew of new content coming Disney+, as well as special presentations to offer sneak peeks of what’s coming to the service from all of its various brands, including Marvel and Pixar.

Via: Reuters