Disney added 103.6 million paid steaming subscribers in Q2, missing estimates of 109 million as the pandemic streaming boom slows

• Disney ended Q2 with 103.6 million paid subscribers, versus the 109 million analysts expected.
• The drop indicates that the pandemic-driven streaming boom may be slowing down.
• Netflix saw a similar slowdown in Q1, reporting 4 million instead of 6 million new users.

Disney posted a bigger-than-expected fall in quarterly revenue on Thursday as streaming subscriber additions slowed from movie theaters gradually reopening and as operations at its theme parks remain restricted.

Overall revenue fell 13% to $15.61 billion in the second quarter ended April 3, missing analysts' estimate of $15.87 billion, according to IBES data from Refinitiv.

The company ended its second quarter with 103.6 million paid subscribers, missing analysts' estimates of 109 million.

Complimentary Tech Event

Transform talent with learning that works

Capability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More

It's another example of how the rapid growth in streaming subscribers during the pandemic seems to be slowing as vaccine rollouts accelerate theater reopenings and live sports events, giving people more avenues of entertainment. Streaming competitor Netflix saw a similar slowdown in Q1, adding four million new customers compared to the six million that were expected.

Overall revenue fell 13% to $15.61 billion in the second quarter ended April 3, compared with analysts' estimate of $15.87 billion, according to IBES data from Refinitiv.

Net income from continuing operations rose to $912 million, or 50 cents per share, in the second quarter from $468 million, or 26 cents per share, from a year earlier.