The figure includes subscribers for Disney+ in collaboration with Hotstar in India and Indonesia.
Disney’s streaming service Disney+, which was launched in November last year, has crossed 73m subscribers, the company revealed in its earnings report for Q4 and fiscal year ended October 3, 2020. The figure includes Disney+ Hotstar subscribers from India and Indonesia.
The most significant adverse impact in the current quarter and year from Covid-19 was approximately $2.4bn and $6.9bn, respectively, on operating income at Disney’s Parks, Experiences and Products segment due to revenue lost as a result of the closures or reduced operating capacities.
Meanwhile, Studio Entertainment revenues for the quarter decreased by 52% to $1.6bn and segment operating income decreased 61% to $419m. Theatrical distribution was lower as there were generally no significant worldwide theatrical releases in the quarter compared to The Lion King and Toy Story 4, which were in release in the prior-year quarter.
At Direct-to-Consumer & International for the quarter and year, lower advertising revenue was partially offset by lower costs including the deferral of sports programming costs into fiscal 2021.
Media Networks revenues for the quarter increased 11% to $7.2bn, and segment operating income increased 5% to $1.9bn. Broadcasting revenues for the quarter increased 10% to $2.5bn and operating income increased 47% to $553m.
Commenting on the numbers, Bob Chapek, Chief Executive Officer, The Walt Disney Company, said: “Even with the disruption caused by Covid-19, we’ve been able to effectively manage our businesses while also taking bold, deliberate steps to position our company for greater long-term growth. The real bright spot has been our direct-to-consumer business, which is key to the future of our company, and on this anniversary of the launch of Disney+ we’re pleased to report that, as of the end of the fourth quarter, the service had more than 73m paid subscribers – far surpassing our expectations in just its first year.”