GCC secretary-general stresses commitment to completing Gulf railway project on schedule    Saudi minister holds strategic AI and tech talks with French institutions in Paris    Absher processed over 35 million transactions in June 2025    Seven Umrah companies suspended for housing pilgrims in unlicensed accommodations    KSrelief signs Syria wildfire response deal in Latakia    Youth-led Saudi businesses exceed 474K    ASICS and Saudi Sports for All launch startup pitch to boost sports innovation in Saudi Arabia    GCC and Muslim World League condemn Israeli strikes on Syria    Striking trade deal with US was an 'extraordinary struggle,' Indonesia says    Scientists recover proteins from a 24 million-year-old rhino fossil    Harry Potter actress Emma Watson banned from driving for speeding    Thousands of Afghans were moved to UK in secret scheme after data breach    Trump says attorney general should release any 'credible' information on Epstein    Saudi Arabia to expand railway network by over 50% under transport strategy    Health official warns against unsupervised use of weight-loss drugs like Ozempic, Mounjaro    Biggest human imaging study scans 100,000th person    Jorge Jesus returns to Saudi Arabia as Al Nassr head coach on one-year deal    Jannik Sinner beats Carlos Alcaraz to win his maiden Wimbledon title    Chelsea defeat PSG 3-0 to win first expanded Club World Cup    Theo Hernández: Al Hilal can compete with Europe's best    Sholay: Bollywood epic roars back to big screen after 50 years with new ending    Ministry launches online booking for slaughterhouses on eve of Eid Al-Adha    Shah Rukh Khan makes Met Gala debut in Sabyasachi    Pakistani star's Bollywood return excites fans and riles far right    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Disney overtakes Netflix in battle for subscribers
Published in The Saudi Gazette on 11 - 08 - 2022

Disney will launch a new ad-supported streaming service in the US in December, as it overtakes Netflix in the race for paid subscribers.
The firm reported 221.1 million subscribers across its three streaming platforms at the start of July.
That put it just ahead of Netflix, which has been losing customers.
But Disney warned that its loss of streaming rights for cricket in India would reduce its subscriber growth compared to previous forecasts.
The firm, which also owns adult television streaming platform Hulu and the sports-focused ESPN+, said demand for its Disney+ product remained strong.
Pandemic lockdowns provided a boost to streaming services like Disney, but the easing of Covid restrictions doesn't seem to be preventing it attracting new customers.
The company added 14.4 million Disney+ subscribers in the quarter, many of them outside of the US - far more than analysts had expected.
Later this year it will launch a new ad-funded service, which will still be charged at the current subscription rate of $7.99. The charge for the ad-free service will rise to $10.99 per month.
The firm plans to launch its ad-funded service outside the US next year.
Executives said they do not expect the rise in prices to put off customers over the long term. The firm is also seeing strong interest from companies hoping to advertise on the new service, they said.
"We are in a position of strength with record upfront advertising commitment," chief executive Bob Chapek told analysts in a conference call to discuss the firm's financial results.
Disney's subscriber gains have come at a hefty cost, with its streaming business losing $1.1bn in the quarter.
Executives said they expect losses to peak this year, In the meantime, a strong rebound in attendance at its theme parks since the worst of the pandemic has provided the firm with a large financial cushion.
Total revenues in the April-June period jumped 26% from last year, pushing profits to $1.5bn.
Shares in the company jumped more than 6% in after-hours trade after the firm shared its results.
Paolo Pescatore, analyst at PP Foresight, called it a "pivotal moment in the streaming wars" saying Disney had more room to grow than arch-rival Netflix.
Netflix lost nearly one million accounts in the most recent quarter, putting its subscriber total at 220.67 million.
The results "firmly underline my belief that Disney is at a different phase of growth to Netflix", said Mr Pescatore. "There are still millions of users to acquire as it continues to expand into new markets and rolls out new blockbuster shows". — BBC


Clic here to read the story from its source.