Disney has reported that 28.6 million people have signed up for its Disney+ SVoD service since it went live in November 2019.
“The launch of Disney+ has been enormously successful, exceeding even our greatest expectations,” Disney boss Bob Iger said on a call with analysts after the release of the company’s Q1 earnings.
Disney+ is currently available in five countries(Australia, New Zealand, Netherlands, US and Canada). It is due to launch in the UK and much of Western Europe on March 24th. Iger added the service will also launch in India through pay-TV provider Hotstar on March 29th.
Disney said revenues in the quarter were up 36 per cent year-on-year. However profits declined 25 per cent from $2.8 billion to $2.1 billion, amid big spending on its on-demand offerings.
Revenues in its direct-to-consumer unit – which includes Hulu and Disney+ – increased to $4 billion, from $0.9 billion, but operating loss widened from $136 million to $693 million.
Disney also warned investors that its operating income in the next quarter could take a nearly $300 million hit due to the closure of its parks in China following thr coronavirus outbreak – and the fact that visitors to Hong Kong had already dropped significantly due to protests there.