Sharjah24 – AFP: Disney said Thursday its streaming services flourished while its parks, travel and film businesses remained hobbled by the pandemic at the end of last year.
The entertainment colossus behind the Magic Kingdom and all its entertainment wonders saw subscriptions at its streaming services surge to more than 146 million subscribers, as people hunkering down due to the pandemic have turned to sources of online entertainment.
The audience growth for Disney+, Hulu, ESPN and India's Hotstar comes as the parent company's travel and amusement park business suffered, and shows the entertainment giant is gaining ground on leading streaming service Netflix's 203 million subscribers.
The growth of Disney's streaming services, with the bulk of the audience made up of the 95 million subscribers who joined Disney+ since it launched about a year ago, trounced expectations.
Disney+ alone added 21.2 million paid subscribers in the final quarter of last year, according to the earnings report.
The entertainment giant is prioritizing exclusive programming, original shows and movies, as well as bundled streaming services to build on the momentum of its various offerings, which extend beyond Disney+ to include ESPN, Hulu and Hotstar.
Hit launches at Disney+ at the end of last year included an animated film "Soul" that combined comedy and drama with a message about finding the spark that gives life meaning.
The quarter also featured a new season of original Star Wars spin-off series "The Mandalorian."
Disney has played to the strengths of its Pixar, Marvel and Star Wars teams, as well as its own studio content at the streaming service.
The analyst expected Disney streaming services to continue growing, and that its parks, television and movie businesses will recover quickly as Covid-19 vaccines are administered and pent-up demand is unleashed.
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