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Walt Disney Co (NYSE:DIS) strives to keep its streaming subscribers engaged longer on its platforms, including Disney+, Hulu, and ESPN+.
The entertainment giant is introducing new features to increase user engagement and reduce subscriber churn.
Disney is focusing on a metric known as “hours per subscriber” to enhance viewer engagement, the Wall Street Journal reports.
Also Read: Disney Suffers Major Data Breach As Hackers Leak Internal Slack Data: Report
In a May earnings call, CEO Bob Iger described Netflix as the “gold standard” in streaming and emphasized the importance of developing technology to rival Netflix Inc (NASDAQ:NFLX) and boost streaming profitability.
Disney is developing personalized algorithms to recommend content based on user preferences, customized promotional art, and emails prompting users to finish incomplete series.
The company is also creating pop-up live channels to entertain viewers without requiring them to browse for content. These features are expected to roll out within six months.
In May, Walt Disney reported second-quarter revenue growth of 1% year-on-year to $22.08 billion, marginally missing the analyst consensus estimate of $22.11 billion.
Adjusted EPS of $1.21 beat the analyst consensus estimate of $1.09. Disney expects a fiscal 2024 adjusted EPS growth target of 25%.
In April, Netflix reported first-quarter revenue growth of 14.8% year-on-year to $9.37 billion, beating the analyst consensus estimate of $9.28 billion. EPS of $5.28 beat the analyst consensus estimate of $4.51.
Netflix added 9.33 million paid net new subscribers in the first quarter, reaching total subscribers of 269.60 million, up by 16.0% year-over-year. Disney serves nearly 230 million streaming customers worldwide through its various services.
Price Actions: DIS shares are trading lower by 1.39% at $97.11 at the last check on Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock
