Disney+ has more than 73M subscribers

Disney+ has more than 73M subscribers

Described as "the real bright spot amidst the pandemic" by CEO Bob Chapek on the company's earnings call, the dominant force in the D2C group is Disney+, which has reached 73 million users worldwide - up from just over 60 million at the end of Q3.

At Disney and other major Hollywood studios, the pandemic has accelerated a shift toward streaming and direct-to-consumer services that count on subscriptions, rather than box-office grosses, to boost the bottom line.

The company will host its investor day presentation on December 10, during which it will discuss future plans for Disney+ along with revealing details on Star, the adult-oriented streamer which will launch in 2021 and was announced in August.

The call also touched on Disney's theme parks and resort operations, saying that even while running at the required reduced capacity, the company is still seeing a "willingness" from consumers to visit the sites.

Elsewhere, a handful of Disney parks have re-opened amid the global pandemic. That has helped Disney shares weather quarterly reports that would have seemed unlikely-if not impossible-at the company a year ago.

All reopened theme parks - Walt Disney World, Hong Kong Disneyland, and Shanghai Disneyland - achieved a net positive contribution in the quarter; meaning that they made back what they spent during reopening but still lost billions.

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Report said that this shows signs of increasing demand and trust in Disney parks. Chapek did warn that the unpredictability of COVID-19 could cause disruptions.

The company said that they estimate the total net adverse effect of COVID-19 on segment operating income in the quarter was around $2.4 billion.

The past several months have seen Disney take drastic measures to stanch revenue declines. Of the three, Disney+ continues to yield the lowest average monthly revenue per paid subscriber, at $4.52, owing in part to a $6.99 monthly subscription fee that is lower than most competitors.

Chapek said that he was happy with everything that stemmed from the National Basketball Association and MLS being hosted in the Walt Disney World bubble.

"We're extraordinarily dissatisfied that the state of California continues to preserve Disneyland closed regardless of our confirmed observe file", he mentioned on the fourth-quarter earnings name. While most other theme parks around the world have been able to reopen to some capacity and return to something that is just a smaller version of normal, Disneyland has remained continually closed since March of this year.

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