Disney+ Hits Slump, Adding Only 2.1 Million Subscribers in Fourth Quarter

By Fletcher Peters @fIetcherpeters
Published Nov. 10, 2021, 4:13 p.m. ET

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Disney+ has hit a massive slowdown, reaching just 118.1 million total subscribers, which was announced during today’s earnings call with the company where Disney CEO Bob Chapek gave insight about the streaming service’s growth. The streamer added 2.1 million global customers in the latest quarter, a slow jump up from the 116 million subscribers announced in May. This news comes after Disney+ missed expectations with their net additions for the first three months of the year, though it rebounded with that 116 million count in May.

According to these latest numbers (and those announced earlier this year), Disney has beat its original projections to secure between 60 and 90 million subscribers within four years. The platform has soared past that goal in just a year and a half — the service launched in November 2019. Disney+ crossed 103 million subscribers in Q2 of 2021.

“This has been a very productive year for The Walt Disney Company, as we’ve made great strides in reopening our businesses while also taking meaningful and innovative steps to position ourselves for longterm growth,” Chapek said. “We are extremely pleased with the success of our portfolio of streaming services. Disney+, ESPN+, and Hulu continue to perform incredibly well, with 118.1 million, 17.1 million, and 43.8 million subscribers respectively, for a total of 179 million subscriptions.”

Within the last few months, Disney+ has debuted a handful of popular releases, including Loki, High School Musical: The Musical: The Series Season 2, Luca, Cruella, and What If... Later this year, series like Hawkeye and The Book of Boba Fett are set to debut, with films like Shang-Chi and the Legend of the Ten Rings and possibly Eternals also set to hit the streamer by year’s end. The news also comes just two days before the company’s annual Disney+ Day on Nov. 12.

Still, with a stunning 118 million global subscribers, Disney+ is continuing to close the gap with streaming giant Netflix, which reported 209 million subscribers at their Q2 2021 earnings release. Disney’s streamer is projected to take down Netflix by 2026, an analyst’s forecast predicted last month. Disney+ has toppled Hulu, which has nearly 40 million subscribers, along with HBO Max, which comes in at 44.2 million.

The streamer’s growth has come even with new price hikes, adding a dollar to make the cost $7.99/month as of March 26. The June quarter, Disney’s fiscal Q3 2021, marks the first period to fully reflect Disney+’s price hikes this spring.