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Breakingviews – Capital Calls: India Boosts Disney Streaming
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NEW YORK (Reuters Breakingviews) – Concise insights on global finance in the Covid-19 era.
PLUS OR MINUS. Walt Disney said on Thursday that the number of subscriptions to its direct-to-consumer flagship streaming service was approximately 95 million for the quarter ended Jan. 2. from India’s Hotstar, the service that broadcasts cricket in the Indian Premier League and was previously part of Fox.
Launched in April, Disney + Hotstar now accounts for 30% of its global subscribers. But there are costs associated with this growth. Average revenue per user in the quarter fell 28% year over year to $ 4.03. Remove Disney + Hotstar and the ARPU was $ 5.56. In comparison, Netflix, with more than 200 million customers, rakes in over $ 7 per subscriber. Investors may be willing to tolerate Disney’s Indian equation. After all, the company’s market value is up more than 60% since April 2019, when it drew up detailed plans for its streaming strategy, handily beating the S&P 500 Index. (By Jennifer Saba)
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