IT House July 20 news, according to the Wall Street Journal,Hulu has become The Walt Disney Company’s fastest-growing US streaming service.
Antenna data shows that in the past 24 months,Hulu’s new subscribers exceeded Disney’s flagship streaming platform Disney+ for 18 months. Over the past six quarters,Hulu adds more subscribers than Disney+ every single season.
Hulu subscriber growth also made Disney management feel pressure from investors,Demand to keep Disney+ subscribers growing. IT House has learned that Disney CEO Bob Chapek has set a goal of acquiring 230 million to 260 million Disney+ subscribers and making the streaming business profitable by September 2024. For some shareholders, this goal is unrealistic.
For now, some analysts and investors see streaming as a drag on Disney stock. With media stocks falling across the board,Disney’s stock has fallen nearly 40% this year. Disney+ had 137.7 million global subscribers at the end of the most recent quarter. Hulu’s pure streaming service has 41.4 million subscribers.
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