Walt Disney Co. (NYSE:DIS) CEO Bob Chapek is touting a “steady flow” of key releases in the fourth quarter.
Some of the studio's movies and shows currently on deck include “She-Hulk" and “Hocus Pocus 2.”
What Happened: Chapek made his comments at the company’s third-quarter earnings call on Wednesday.
“We look forward to celebrating the second annual Disney+ Day on September 8 with activations across our synergy machine," Chapek said.
The Disney CEO said that in the theatrical segment, Disney has a lineup that includes “Avatar: The Way of Water,” the animated feature film “Strange World” and the final film in Marvel’s Phase 4 — ”Black Panther: Wakanda Forever.”
Touching on the excitement around the Black Panther movie, Chapek said, “Excitement for this film is amazing and the trailer received more than 170 million views in its first 24 hours.”
Disney+’s global line up will see the addition of Korean pop sensation BTS to the service via “an exclusive cinematic concert film and docuseries following the band's incredible journey,” said Chapek.
“BTS and the K-Pop genre at large, carry massive global appeal and affinity, which will further extend our reach into that global fan base.”
The Burbank, California-based entertainment behemoth will continue to step up investment in local originals and will bring to Disney+ the seventh season of popular Indian talk show “Koffee with Karan.”
See Also: How To Buy Disney (DIS) stock
Why It Matters: Disney reported Q3 earnings per share of $1.09 beating Street estimates of $1 per share. Disney+ added 14.4 million subscribers in the period, racking up a total of 152.1 million.
The company’s domestic subscribers amount to 44.5 million or 17% of total, while the international base comprises 49.2 million subscribers or 48% of the total.
Average revenue per use for Disney+ amounted to $4.35, a growth of 5% year-over-year.
In contrast, rival Netflix Inc (NASDAQ:NFLX) said in July it had 220.67 million subscribers in the second quarter. In the first quarter, the Disney+ rival had 221.64 million subscribers.
Disney+’s “Obi-Wan Kenobi” and “The Mandalorian” were among the most popular original television shows in the United States in June. However the most popular title was Netflix’s “Stranger Things,” according to data from Statista.
Price Action: On Wednesday, Disney shares shot up 6.8% to $120.15 in the after-hours trading after closing 4.1% higher at $112.53 in the regular session, according to data from Benzinga Pro.
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