Walt Disney reported strong growth at its Disney Plus streaming service in its latest quarter, drawing a sharp contrast with the recent subscriber declines experienced by industry leader Netflix.
Disney added 7.9mn new subscribers, well above projections of about 5mn. That healthy increase comes just weeks after Netflix warned it would lose 2mn subscribers in the current quarter, sparking a sharp sell-off in its shares and raising concerns about the potential size of the global video streaming market.
The company’s theme parks division also had a strong rebound, where quarterly revenue more than doubled year-on-year to $6.6bn, beating Wall Street projections.
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