Eight million people have newly subscribed to the streaming service Disney+, as Disney shared on Wednesday during its quarterly earnings report. CEO Bob Chapek says the company is on track to have 240-260 million Disney+ subscribers by the end of 2024.
But CFO Christine M. McCarthy says growth in the latter part of the year may not be as strong as Chapek predicts. Investors are asking questions about how much money Disney+ subscribers are paying, and how long they’ll keep their memberships.
Former CEO Bob Iger priced Disney+ very low in order to build a subscriber base at scale. But now the streaming service has a lower revenue per user than competitors Hulu and Netflix.