Disney overtakes Netflix in subscriber race

Image source, Disney< p class="ssrcss-1q0x1qg-Paragraph eq5iqo00">Disney will launch a new ad-supported streaming service in the US in December, as it overtakes Netflix in in the race for paid subscribers.

The company reported 221.1 million subscribers across its three streaming platforms in early July.

That puts it right ahead of Netflix, which is losing customers.

But Disney has warned that its loss streaming rights for cricket in India would reduce its subscriber growth compared to previous forecasts.

The company, which also owns sports-focused mainstream television platform Hulu and ESPN+, said demand for its Disney+ product remains strong.

Young people cut their video streaming services Netflix trials charging $2.99 ​​for shared accountsAmazon raises Prime membership price Covid restrictions don't seem to stop it from attracting new customers .

The company added 14.4 million Disney+ subscribers in the quarter, many of them outside the United States — far more than the analysts had expected.

Later this year it will launch a new ad-supported service, which will still be charged at the current subscription rate of 7.99 $. The fee for the ad-free service will increase to $10.99 per month.

The company plans to launch its ad-supported service outside the United States next year.

Executives said they don't expect higher prices to put off customers...