In H1 2025, paying streaming subscribers rose 15.3% to 7.2 million, streaming revenue climbed 27% to €235 million, and start-up losses fell nearly 60%, offsetting a 6.9% drop in TV ad sales and driving confidence in a €780 million full-year EBITA target.
Total revenues were $9.8 billion in Q2 2025, up modestly from the prior year quarter. Distribution revenues were relatively unchanged, as growth in global streaming subscribers was offset by continued domestic linear pay TV subscriber declines.
Starting in early 2026, U.S. subscribers will access Hulu content exclusively within Disney+, while the company stops reporting individual subscriber counts for Disney+, Hulu, and ESPN+ amid a 7% year-over-year rise in direct-to-consumer revenue.
Platform revenue reached $975 million, streaming hours hit 35.4 billion, and gross profit rose 17% year-over-year; company announces $400 million stock repurchase plan as it lifts full-year guidance.