Disney made its first live streaming broadcast this morning with coverage of the 2022 Oscar nominations as it ratcheted its battle with Netflix up another notch.
In a statement, Disney+, the entertainment company’s streaming arm, said "We are pleased with the results and will continue to test as part of our ongoing and iterative approach to deliver the best user experiences to consumers."
The broadcast was a significant shift in emphasis from the Marvel to Mickey Mouse group, which up to this point has offered films, series and other content such as documentaries on-demand by subscription.
Walt Disney Corp does have has other services that carry live streams, such as sports channel ESPN + and Hulu, but these operate at arm’s length from each other and Disney+.
Being able to live stream events such as the Oscars ceremony or opening nights on big new film releases would steal a march on Netflix and other subscription streamers, analysts said.
Disney+ had 118mln subscribers at the end of October and how that number has changed will be one of the key things investors will be looking out for in today’s earnings update.
The current forecast is for between 230mln to 260mln Disney+ subscribers by 2024 and some big programmes have been rolled out in the past three months to counter a seeming slowing in the previous three months.
The October quarter saw 2.1 million subscribers added and monthly revenue per paid customer down 9% on the year prior.
During its latest fiscal first quarter, Disney released the Beatles documentary Get Back, the Marvel Cinematic Universe’s Hawkeye series and the first episode in the latest Star Wars series The Book of Boba Fett or The Mandalorian 2.5 as fans have christened it.
Positive streaming results for the company would buck a bearish outlook towards streaming triggered by Netflix’s recent earnings statement, which saw the leading streamer’s subscriber growth slow markedly following accelerated growth through Covid-19 restrictions.
Netflix added 3.5mln fewer subscribers in its first quarter of 2022 against the 2021 rate.