Disney Clobbers Wall Street, Adds MILLIONS of Disney+ Subscribers

For a long time, it felt like The Walt Disney Company was following in the path of King Midas — everything they touched turned to gold. Unfortunately, for the past few years, Disney has been struggling more than it has in decades. The company is struggling to produce major box office hits. It is also trying to keep people coming to its parks, which are more expensive than ever.

But the biggest issue Disney is struggling with might be its streaming service, Disney+.

Disney+ was launched in November 2019, just four months before CEO Bob Iger stepped down as CEO and into the role of Executive Chairman. The streamer actually had some very successful opening months, due, in part, to the pandemic, which kept people indoors and looking for entertainment. Unfortunately, things quickly descended into chaos and, in just four years, Disney+ has lost Disney approximately $11 billion.

Related: Subscribers Enraged as Disney+ Doubles in Price

Bob Iger stepped back into the CEO role in November 2022, after the sudden firing of Bob Chapek. Since then, Iger has brought the hammer down on Disney+. A number of shows have been canceled — some before even airing — and most shows have experienced budget cuts. In December 2022, the company also launched an ad-supported tier of Disney+, giving subscribers a cheaper option than the ad-free tier.

Related: Disney Quietly Removes Popular Streaming Feature

Between the major price increases and show cancelations, many were worried that Disney+ would see a major hit. However, Iger has revealed that the company has soared past Wall Street expectations, adding 7 million subscribers.

Disney revealed these numbers just before Iger gave an interview with CNBC. Wall Street analysts had expected that Disney would only add about 3 million subscribers in the fourth quarter. The numbers revealed by Disney were a huge — and much needed — surprise.

In his interview with CNBC, Iger said that a lot of the credit had to be given to three major films that were released on the streamer this quarter — Guardians of the Galaxy: Vol 3. (2023) ,Elemental (2023) ,and The Little Mermaid (2023). In addition to those three films, the Star Wars series Ahsoka has also been a massive hit, in addition to the Korean drama, Moving.

Iger said that Disney remains “bullish” on Disney+ and thinks that subscriber numbers will continue to increase.

Related: Elemental Just Made Pixar History!

Iger thinks that Disney+ will see even more success when the company completes its purchase of Hulu — which is expected to happen in the next few months. When Disney finally has total control over Hulu, the company expects to release what he called a “triple bundle.” That new Disney Bundle will allow subscribers to pay one price for Disney+, Hulu, and ESPN.

As it stands, Disney will be launching a Beta version of a Hulu/Disney+ app in December. He said that the company hopes to have the app out of Beta and officially launched in March 2025.

What are your favorite television shows and movies to watch on Disney+? Let us know in the comments!