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Disney+ Subscribers Surge as Netflix Stumbles

Photo: Reuters
Photo: Reuters
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Disney+ Subscribers Surge as Netflix Stumbles

Photo: Reuters
Photo: Reuters

The Disney+ streaming service saw its number of paying subscribers leap beyond expectations in the last quarter, as rival Netflix's client count ebbed, results showed Wednesday.

The number of people subscribing to Disney+ topped 152 million, up some 31 percent from the same period a year earlier, the entertainment giant said in an earnings report.

Disney's bottom line was also boosted by rising revenue from its theme parks, which showed signs of recovering from stifled attendance during the pandemic, AFP reported.

Better-that-expected earnings reported by Disney came as many of the tech titans that flourished during the pandemic curb costs in the face of inflation and people get back to living life in the real world instead of online.

Disney shares were up more than 6 percent in after-market trades that followed release of the earnings figures.

"We had an excellent quarter, with our world-class creative and business teams powering outstanding performance at our domestic theme parks, big increases in live-sports viewership, and significant subscriber growth at our streaming services," said Disney chief executive Bob Chapek.

The 14.4 million Disney+ subscribers added in the recently ended quarter raised the overall number of subscriptions to its streaming services, which include Hulu and ESPN+, to 221 million, Chapek added.

The overall number of subscribers to Disney streaming services topped those of Netflix for the first time.

"Investors will breathe a sigh of relief from Disney’s robust fiscal (quarterly) earnings," said Insider Intelligence principal analyst Paul Verna.

"The streaming figures will be seen as an indicator of the health of the market, especially after lackluster subscriber figures from Netflix and Comcast."

Disney also announced that an ad-subsidized version of its streaming television subscription service will be offered in the United States starting December 8 at a monthly price $3 less than the ad-free offering.

- K-pop and superheroes -
Taking a page from Netflix's playbook, Disney has been investing in shows created in places outside the United States.

The company plans to "step up" investments in such local original content, Chapek said, pointing out a film concert and docu-series focused on South Korean music sensation BTS.

He expressed confidence in Disney theater films in the works, including an eagerly anticipated "Black Panther: Wakanda Forever" addition to its Marvel superhero line-up.

A trailer for the Black Panther film logged more than 170 million views in the 24 hours after its release, Chapek said.

"Disney still faces economic uncertainty and intense competition, but performance should at least temporarily put to rest some of Wall Street's gloomier perceptions about the company, and more broadly about the entertainment industry," said Paul Verna, an analyst at Insider Intelligence.

Rival Netflix has reported losing subscribers for two quarters in a row, as the streaming giant battles fierce competition and viewer belt tightening, though the firm assured investors of better days ahead.

The loss of 970,000 paying customers in the most recent quarter was less than expected, leaving Netflix with just shy of 221 million subscribers.

"Our challenge and opportunity is to accelerate our revenue and membership growth... and to better monetize our big audience," the firm said in its earnings report.

After years of amassing subscribers, Netflix lost 200,000 customers worldwide in the first quarter compared to the end of 2021.

Netflix said in its earnings report that it had expected to gain a million paid subscribers in the current quarter.

Netflix executives have made it clear the company will get tougher on sharing logins and passwords, which allow many to access the platform's content without paying.

In an effort to draw new subscribers, Netflix said it will work with Microsoft to launch a cheaper subscription plan that includes advertisements.

The ad-supported offering will be in addition to the three account options already available, with the cheapest plan coming in at $10 per month in the United States.

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Movie Review: In ‘Deadpool & Wolverine,’ the Superhero Movie Finally Accepts Itself for What It Is 

Hugh Jackman and Ryan Reynolds attend the premiere of "Deadpool & Wolverine" in New York City, New York, US, July 22, 2024. (Reuters)
Hugh Jackman and Ryan Reynolds attend the premiere of "Deadpool & Wolverine" in New York City, New York, US, July 22, 2024. (Reuters)
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Movie Review: In ‘Deadpool & Wolverine,’ the Superhero Movie Finally Accepts Itself for What It Is 

Hugh Jackman and Ryan Reynolds attend the premiere of "Deadpool & Wolverine" in New York City, New York, US, July 22, 2024. (Reuters)
Hugh Jackman and Ryan Reynolds attend the premiere of "Deadpool & Wolverine" in New York City, New York, US, July 22, 2024. (Reuters)

If one thing is certain about “Deadpool,” it’s that its titular hero, for reasons never explained, understands his place in the world — well, in our world.

Indeed, the irreverent and raunchy mutant is sure to belabor his awareness of the context in which he lives — namely an over-saturated, increasingly labyrinthine multibillion-dollar Marvel multiverse which spans decades, studios and too many films for most viewers to count.

From its inception, the “Deadpool” franchise has prided itself on a subversive, self-aware anti-superhero superhero movie, making fun of everything from comic books to Hollywood to its biggest champion, co-writer and star, Ryan Reynolds.

It’s no surprise then, as fans have come to expect, that the long-anticipated “Deadpool & Wolverine” further embraces its fourth wall-breaking self-awareness — even as it looks increasingly and more earnestly like the superhero movie blueprint it loves to exploit. That tension — the fact that “Deadpool” has called out comic book movie tropes despite being, in fact, a comic book movie — is somehow remedied in “Deadpool & Wolverine,” which leans into its genre more than the franchise’s first two movies.

Perhaps this gives viewers more clarity on its intended audience. After all, someone who hates superhero films — I’m looking at you, Scorsese — isn’t going to be won over because of a few self-deprecating jokes about lazy writing, budgets for A-list cameos and the overused “superhero landing” Reynolds’ Deadpool regularly refers to.

But this time around, director Shawn Levy — his first Marvel movie — seems to have found a sweet spot. Levy is surely helped by the fact that the third film in the franchise has a bigger budget, more hype and, of course, a brooding Hugh Jackman as Wolverine.

That anticipation makes their relationship, packed with hatred and fandom, all the more enticing. Their fight scenes against each other are just as compelling as their moments of self-sacrificial partnership in the spirit of, you guessed it, saving the world(s).

Speaking of worlds, there is one important development in our own to be aware of ahead of time. The first two “Deadpool” films were distributed by 20th Century Fox, whose $71.3 billion acquisition by the Walt Disney Co. in 2019 opened the door for the franchise to join the Marvel Cinematic Universe.

Perhaps unsurprisingly, “Deadpool & Wolverine” takes full advantage of that vast playground, which began in 2008 with Robert Downey Jr.’s “Iron Man” and now includes more than 30 films and a host of television shows. The acquisition is also a recurring target of Deadpool’s sarcasm throughout the movie.

Although steeped in references and cameos that can feel a bit like inside baseball for the less devoted, “Deadpool & Wolverine” is easy enough to follow for the casual Marvel viewer, though it wouldn’t hurt to have seen the first “Deadpool” and Jackman’s 2017 “Logan,” a harbinger of the increasing appetite for R-rated superhero violence. The Disney+ series “Loki” also gives helpful context, though is by no means a must watch, on the Time Variance Authority, which polices multiverse timelines to avoid “incursions,” or the catastrophic colliding of universes.

A defining feature of “Deadpool” has been its R rating and hyper violent action scenes. Whether thanks to more money, Levy’s direction or some combination of the two, these scenes are much more visually appealing.

But “Deadpool & Wolverine” does succumb to some of the deus ex machina writing that so often plagues superhero movies. Wade Wilson’s (the real identity of Deadpool) relationship with his ex (?) Vanessa is particularly underdeveloped — though it’s possible that ambiguity is a metaphor for Deadpool’s future within the MCU.

The plot feels aimless at points toward the end. One cameo-saturated battle scene in particular is resolved in a way that leaves its audience wanting after spending quite a bit of time building tension around it. While there are a few impressive stars who make an appearance, audiences may be disappointed by the amount of MCU characters referenced who don’t make it in.

The bloody but comedic final fight scene, however, is enough to perk viewers back up for the last act, solidifying the film’s identity as a fun, generally well-made summer movie.

The sole MCU release of 2024, “Deadpool & Wolverine” proves it’s not necessarily the source material that’s causing so-called superhero fatigue. It also suggests, in light of Marvel’s move to scale back production following a pandemic and historic Hollywood strikes, that increased attention given to making a movie will ultimately help the final product.