Disney Plus just keeps on growing 📈
What’s more, subscriber growth doesn’t automatically equal profit. Despite the rosy reading of its customer numbers, Disney’s fourth-quarter results actually confirmed a year-over-year loss of $1.47 billion. That’s almost double the losses Disney endured in 2021. However, CEO Bob Chapek is confident that Disney Plus will become profitable sooner rather than later – and is rightly proud of how far the streamer has come in such a short space of time.
“The rapid growth of Disney Plus in just three years since launch is a direct result of our strategic decision to invest heavily in creating incredible content and rolling out the service internationally,” Chapek told investors. “We expect our DTC operating losses to narrow going forward and that Disney Plus will still achieve profitability in fiscal 2024, assuming we do not see a meaningful shift in the economic climate.
Between June and September 2022, Disney Plus subscribers were treated to a host of new movies and TV shows that evidently buoyed the streamer’s appeal to prospective customers. In the last three months alone, the likes of
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