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AFTER gaining 28 million new subscribers in the first half of 2020 alone, streaming giant Netflix’s growth slowed in the third quarter (Q3) of the year after net paid subscribers for the quarter hit 2.2 million. according to the Spanish analysis service ComprarAcciones.com. Meanwhile, Disney’s streaming service Disney + reported it had 60.5 million subscribers in August.
The 2.2 million subscribers are below Netflix’s forecast of gaining 2.5 million subscribers, while research analytics firm FactSet had forecast 3.57 million new paid subscribers.
But this may just be a setback, as Netflix added 28 million subscribers in the first six months of 2020 alone, in contrast to the 26 million new subscribers it gained throughout all of 2019. The increase in subscribers can be attributed to the lockdown and stay in -Home orders to keep the COVID-19 pandemic (coronavirus disease 2019) at bay.
Currently, Netflix’s subscriber count is 195.15 million and the Asia Pacific region represents 46% of the global total new subscribers in the third quarter of 2020. Revenues from the same region grew 66% during the period compared to growth of 22.7% globally, making it the fastest growing region for the platform.
Netflix’s growth in the region comes after the company increased its list of original content targeting Japan and India, such as The naked director from Japan and Sacred games from India.
For the last quarter of the year, Netflix expects to get 6 million new subscriptions, bringing the total new subscriptions for 2020 to 34 million, a new record for the company from 28.6 million in 2018.
Meanwhile, Disney + subscribers reached 60 million in the three quarters of the year, a boon for the company whose amusement parks were closed this year due to the pandemic. The company also had to pause its live movie productions and sports programming for the same reason.
Walt Disney reported that it has added about 30 million subscribers from late March to August, according to BuyActions. This too despite the controversies surrounding Disney’s release of its new live-action remake. Mulan, which included controversial statements made by its main star Liu Yifei supporting Hong Kong police violence against protesters and that parts of the film were filmed in China’s Xinjiang region where Uighurs, a minority, were allegedly abused. And taken to education ”, which many consider concentration camps.
The Disney + service was launched in November 2019.
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