The company reported a significant increase in its streaming subscribers, strong gains in TV advertising revenue, and a confirmation of its full-year outlook and long-term streaming targets.
Streaming revenues increased 9% to $150 million, driven by year-over-year subscriber growth and price increases. In addition, advertising revenues decreased 11% to $149 million due to linear ratings declines.
Reaching 103.3 million subscribers, advertising revenue in the DTC segment saw a significant increase of 99%, driven by higher domestic Max engagement and growth in ad-lite subscribers, and increasing ARPU by 4% to $8.00.
Cost of Disney+, Hulu and Max packages to remain unchanged. Additionally, the streamer will introduce four new curated playlists for Premium subscribers this fall, with content refreshed monthly.