Disney+ nets $29 million in Q1 2021

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February 15, 2021, 3:11 AM GMT+0

There are plans to increase its monthly subscription price in March 2021 to $7.99.

With Disney+ reaching 94.9 million subscribers since its November 2019 launch, the platform surpassed its projection of attaining 90 million subscribers by 2024. Disney+ added 8.1 million subscribers in December 2020, according to The Walt Disney Company’s Q1 earnings report.

“The Mandalorian” and Pixar film “Soul” have largely been accredited to the increase in subscribers in December. While a profit of $29 million was amassed in Q1 2021, the company reported a 99% drop from $2.1 billion in 2020, due to the pandemic.

To recover the decreasing average revenue per user, the streaming platform plans to increase The Disney+, Hulu and ESPN+ bundle pricing will now be $13.99 per month. Further, growth of Hulu’s subscribers supported by its ad streaming model, has increased Disney’s total subscriber count to 146 million.

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