Baby Yoda is a little baby cash machine
Emailed on February 7th 2020 in The Friday Forward
Disney reported fiscal Q1 earnings this week, its first since launching the Disney+ streaming service in November. First, the high-level financials:
Total revenue was up 36% annually to $20.9 billion.
But Disney+ expenses dragged profit down 23%.
Disney+ added 10 million subscribers on their first day, and that was before we met the cutest space alien every dreamt up. Disney+ ended up beating expectations with 26.5 million subscribers at the end of Q1 and 28.6 million as of Monday.
For context: In 83 days, Disney+’s user base grew from zero to 17% the size of Netflix’s.
That’s impressive, but don’t forget about its other streaming properties that all fit together in a tidy $13/month bundle.
ESPN+ grew to 6.6 million subscribers from 1.4 million a year ago.
The number of Hulu subscribers grew 33% annually to 30.4 million.
