Walt Disney reports ‘better than expected’ subscriber growth
The company has, however, said it will cut down spending on movies and TV shows
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Published: May 12, 2022 1:40 PM | 1 min read
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Walt Disney has reported a jump in subscriber count for its streaming services. The network has released its second quarter results exceeding analyst estimates.
The platform added over 9 million subscribers in the first three months of the year.
The company has, however, said it will cut down spending on movies and TV shows. It has lowered its projection for film and TV spending by $1 billion.
Investors were expecting a dull performance after rival Netflix declared a drop in subscriber count.
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