After chasing Netflix into streaming, the legacy media giants’ big bet on going direct-to-consumer appears to finally be paying off.
Nearly all the major streamers posted profits during their latest round of earnings, with the improvements fueled by growth in subscribers and overall DTC revenue, as well as price increases, bundling and companies’ continued cost-cutting efforts.
Netflix continued to lead the pack on the subscriber front, adding a total of 5.07 million paid subscribers for a total of 282.72 million globally — up 14.4% year over year. Rounding out the top three was Disney+, which added 4.8 million subscribers for a total of 158.6