Disney’s streaming business has finally turned a profit

Disney has revealed that its streaming business has turned a profit for the first time ever.

In its latest earnings report shared on Wednesday, the company confirmed that it made $47 million USD (about $64.5 million CAD) from Disney+, Hulu and ESPN+ during Q3 2024. (The latter two aren’t available in Canada, although much of Hulu’s content is instead offered on Disney+ Canada under the ‘Star’ banner.)

It should be noted that Disney+ and Hulu were both profitable for the first time in Disney’s previous quarter, although ESPN+ ultimately lost money. Therefore, this is the first time that the company’s entire streaming business has turned a profit.

Elsewhere in its earnings release, Disney confirmed that it added nearly one million subscribers in the U.S. and Canada in Q3, bringing its total in this market to 54.8 million. However, this is significantly less than the eight million new U.S. and Canadian subscribers added in the previous quarter, likely driven, in part, by the addition of the Taylor Swift: The Eras Tour concert film.

Finally, Disney announced a price increase for Disney+, Hulu and ESPN+ that will take effect in the U.S. in October. So far, that hike has only been confirmed for the U.S., but we’ll stay posted for any Canadian updates. For context, the price of the service last went up in Canada in February.

Source: Disney