Analysts at MoffettNathanson cited numerous bleak metrics. To begin with, the firm found that Disney+ daily viewers dropped to 26%, the second consecutive downward quarter. According to the report, 43% of Netflix users indicated that they are daily viewers.
Zara also points out that many Disney+ subscribers joined at no cost. Mobile providers such as Verizon offered free Disney+ subscriptions with device purchases. MoffettNathanson estimates that 18% of Disney+ subscribers come from the Verizon promotion. Worse, less than half of those promotional subscribers plan to renew.
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To be fair, other streaming services like Apple TV+ and HBO Max are in the same metaphorical boat.
Will Disney’s pivot to Disney+ pay off, or are these trends a sign of troublesome times to come as the streaming service enters its sophomore year?
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