The new membership additions bring the Disney+ worldwide paid base to 118.1 million. After a dazzling introduction in late 2019, Disney+ has encountered numerous headwinds, including a pandemic-related shortage of new shows, an increasingly competitive streaming environment, the delay of Indian Premier League cricket games and difficulties rolling out in Latin America. On Wednesday, Disney said its flagship streaming service had added 2.1 million subscriptions in the recent quarter, sharply fewer than analysts polled by FactSet had forecast. Disney may be the world’s largest entertainment company, with vast theme park, sports television and consumer products divisions, but the only business that has come to matter in Wall Street’s punishing gaze is streaming - specifically “subs,” or the number of subscribers.
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