The Walt Disney Co. reported robust revenue and subscriber growth from its streaming services over the fourth quarter of 2021, including continued strong subscriber growth for the Disney+ app.
Disney reported subscription video on demand (SVoD) streaming service subscriptions across its portfolio totaled 196.4 million, including 11.8 million Disney+ subscribers added in the fourth quarter.
Bob Chapek, Walt Diseny Co. CEO, announced the results in issuing the company’s Q4-2021 report Wednesday.
The company said its direct-to-consumer revenues for the quarter increased 34% to $4.7 billion and operating loss increased 27% to $0.6 billion. The increase in operating loss was attributed to higher losses at Disney+, and to a lesser extent, ESPN+, partially offset by improved results at Hulu.
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“Lower results at Disney+ reflected higher programming and production, marketing and technology costs, partially offset by an increase in subscription revenue,” the company said. “Higher subscription revenue was due to subscriber growth and increases in retail pricing. The increases in costs and subscribers reflected growth in existing markets and to a lesser extent, expansion to new markets.”
The company blamed lower results at ESPN+ to higher sports programming costs, which were partially offset by subscription revenue growth and higher income from Ultimate Fighting Championship (UFC) pay-per-view events.
The increase in subscription revenue was due to subscriber growth and, to a lesser extent, an increase in retail pricing.
The company said better results at Hulu resulted from an increase in subscription revenue growth, partially offset by higher programming and production costs.
“Subscription revenue growth was due to an increase in subscribers and higher rates driven by increases in retail pricing for the Hulu Live TV + SVOD service.”
The average monthly revenue per paid subscriber for domestic Disney+ increased from $5.80 to $6.68 due to an increase in retail pricing and a lower mix of wholesale subscribers, partially offset by a higher mix of subscribers to the SVOD Bundle, the company said.
The average monthly revenue per paid subscriber for international Disney+ (excluding Disney+ Hotstar) increased from $4.73 to $5.96 due to increases in retail pricing.
The average monthly revenue per paid subscriber for ESPN+ increased from $4.48 to $5.16 primarily due to an increase in retail pricing and higher per-subscriber advertising revenue, partially offset by a higher mix of subscribers to the SVOD Bundle.
The average monthly revenue per paid subscriber for the Hulu SVOD Only service decreased from $13.51 to $12.96 due to lower per-subscriber advertising revenue and a higher mix of subscribers to the SVOD Bundle, partially offset by an increase in retail pricing.
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By Greg Tarr
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