Netflix is no longer the most popular streaming service in the world, with Disney+’s 14.4 million new subscribers in its third quarter being just enough to edge past the company that is practically a byword for the technology.
Disney’s streaming platform now has 221 million subscribers, just one million more than Netflix’s 220 million.
However, the two services’ trajectory is heading in opposite directions, with Disney+ reporting consistent growth as Netflix loses subscribers.
It is the first time any competitor has passed Netflix on the number of total subscribers.
Disney CEO Bob Chapek said the company “had an excellent quarter”, and promised it would “continue to transform entertainment” as it nears its second century.
In its earnings call, Disney also announced that it would effectively be raising its prices by launching a new ad-supported tier at the same price as the current ad-free service.
Customers who want to avoid ads will have to increase their payments, it announced.
EU Commission adopts ‘right to repair’ proposal
The proposal would grant consumers rights beyond the legal warranty
$1.3 million worth of nickel owned by JPMorgan Chase was just bags of rocks
The nickel was bought by the bank from the London Metals Exchange
UBS to buy ailing Credit Suisse in emergency rescue deal
The move was welcomed by banking regulators around the world