Disney’s flagship streaming platform has beaten subscriber expectations.
SAN FRANCISCO: The streaming television race is heating up, with Disney showing Wednesday it is closing the gap with market leader Netflix, whose stride has slowed.
The US entertainment giant blew past expectations for new subscribers to its flagship streaming service Disney+, whose big studio muscle helped it reach 129.8 million subscribers worldwide, some five million more than analysts had predicted.
Netflix ended the year with 221.8 million subscribers, a massive number, but it announced slowing growth.
“We certainly understand the pie is big enough for both companies to succeed,” CFRA analyst Tuna Amobi said of the streaming rivals.
“What is undeniable is the competition has gotten more intense.”
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