Disney+ Statistics 2026: Subscribers, ARPU, Revenue and Bundle Data

Disney closed fiscal 2025 with 132 million Disney+ subscribers and 196 million combined Disney+ and Hulu subscriptions; the Walt Disney Company will publish for the foreseeable future. Per the Q1 FY26 release, Disney+ now answers to a different scoreboard: Q1 fiscal 2026 SVOD operating income increased $189 million to $450 million at an 8.4% operating margin, a 72% year-over-year jump, with management guiding to a full-year 10% margin.

The data spans subscribers, ARPU, ad-tier adoption, the October 2025 price hike, the Hulu and ESPN tile integration, the JioStar transition in India, and the operating-leverage story that replaced subscriber counts as the headline metric.

Key Takeaways

• Disney’s last-reported subscriber base reached 132 million Disney+ accounts at the end of fiscal Q4 2025, with 59.3 million in the US and Canada and 72.4 million internationally.
• Disney+ International ARPU climbed 4% to $8.00 monthly, outpacing the Domestic figure that held flat at $8.09 in Q4 FY25.
• Direct-to-Consumer operating income for the full fiscal 2025 reached $1.327 billion, up from $143 million the prior year, an order-of-magnitude improvement.
• Ad-supported plans captured, per Antenna tracking, 36% of new Disney+ sign-ups by month 3, compared with 19% for Netflix and 21% for HBO Max.
• Disney’s third price hike in three years took effect on October 21, 2025, lifting Disney+ Premium from $15.99 to $18.99 monthly.
• Disney expects to spend approximately $24 billion on content in fiscal 2026, split roughly half on sports and half on entertainment.
• Per eMarketer coverage of Disney upfronts, combined Disney+, Hulu, and ESPN+ ad-supported reach hit 157 million monthly active users.

Editor’s Choice

• Disney’s Q2 fiscal 2026 SVOD revenue accelerated to $5.49 billion, up 13% year over year.
• DTC operating income for Q2 FY26 jumped 88% to $582 million, the first quarter to break a double-digit operating margin.
• Disney+ Hotstar merged with JioCinema on February 14, 2025, to form JioHotstar, with the parent JioStar JV valued at approximately $8.5 billion post-money.
• The ESPN tile launched on Disney+ on December 4, 2024, including 5,000 live events in the first 90 days from the NFL, NBA, NHL, college basketball, and the Australian Open.
• Disney+ surpassed 100 million global paid subscribers in March 2021, just 16 months after the November 12, 2019, launch.
• Hulu SVOD-only ARPU slipped 2% to $12.20 monthly in Q4 FY25, the only ARPU line to decline that quarter.
• ESPN’s flagship direct-to-consumer streaming app launched on August 21, 2025, bundled with Disney+ and Hulu at $35.99/month with ads.

Recent Developments

• May 2026: Disney’s Q2 FY26 streaming revenue rose to $5.49 billion with $582 million in operating income, an 88% year-over-year jump, reported alongside CFO Hugh Johnston’s first earnings call as company-wide CFO.
• February 2026: Disney’s Q1 FY26 results showed SVOD revenue up 11% to $5.35 billion and operating margin reaching 8.4%, the first quarter without subscriber counts.
• November 2025: Total revenue reached, per Disney’s fiscal 2025 10-K filing, $94.4 billion, up 3% from $91.4 billion, with DTC delivering $1.327 billion in operating income.
• October 2025: Per Variety coverage of Disney pricing, Disney+ implemented its third US price hike in three years on October 21, 2025, pushing the ad-supported plan to $11.99 monthly.
• August 2025: Disney announced it would stop reporting subscriber counts for Disney+, Hulu, or Hulu + Live TV starting with Q1 fiscal 2026, following Netflix’s similar Q1 2025 move.
• August 2025: ESPN’s standalone direct-to-consumer app went live on August 21, 2025, at $29.99 promotional first-year pricing for the bundle.

Disney+ Subscriber Statistics (Last Officially Reported)

Disney closed, per The Walt Disney Company Q4 FY25 release, its fiscal 2025 fourth quarter (ending September 27, 2025) with 132 million Disney+ subscribers globally and 196 million combined Disney+ and Hulu subscriptions. That total represented a 12.4 million increase versus Q3 fiscal 2025 and stands as the locked baseline for analysts because Disney went dark on subscriber reporting one quarter later. The Hulu side of the combined number broke down into 59.7 million Hulu SVOD-only subscriptions and 4.4 million Hulu Live TV plus SVOD subscriptions, for a Hulu total of 64.1 million.

• Disney+ global subscribers (Q4 FY25): 132 million.
• Combined Disney+ and Hulu subscriptions: 196 million, an increase of 12.4 million versus Q3 fiscal 2025.
• Hulu total subscriptions: 64.1 million.
• Hulu SVOD-only subscriptions: 59.7 million.
• Hulu Live TV plus SVOD subscriptions: 4.4 million.
• Disney+ Domestic (US and Canada) subscribers: 59.3 million.
• Disney+ International subscribers: 72.4 million.

Source: The Walt Disney Company earnings release

Worth noting: Disney’s Q4 fiscal 2025 figures stand as the last subscriber and ARPU release the company plans to make, with 132 million Disney+ subscribers and 196 million combined accounts as the locked baseline. Operating-income readouts have replaced subscriber growth as the headline metric.

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Disney’s Subscriber Disclosure Blackout

Disney announced, per Variety reporting, in August 2025 that it would no longer report subscriber counts for Disney+, Hulu, or Hulu + Live TV starting with Q1 fiscal 2026, a move the company framed as recognizing that subscriber metrics have become less meaningful for evaluating performance, mirroring the disclosure shift in Netflix’s reporting one quarter earlier.

The Q1 fiscal 2026 earnings report, covering October through December 2025, was the first earnings without subscriber data, with the SVOD bundle posting $5.35 billion in revenue (up 11%) and $450 million in operating income (up 72%) at an 8.4% operating margin. Netflix made a comparable move in Q1 2025, citing similar reasoning about metric relevance, and Disney also stopped breaking out revenue and operating income for its linear TV business in the same quarter.

• Disney’s subscriber-stop announcement date: August 2025.
• First reporting period without subs: Q1 fiscal 2026.
• Q1 FY26 SVOD revenue (the new headline metric): $5.35 billion, up 11%.
• Q1 FY26 SVOD operating income: $450 million, up 72%.
• Q1 FY26 SVOD operating margin: 8.4%.
• Netflix’s parallel sub-stop quarter: Q1 2025.
• Linear TV revenue and operating income: also no longer broken out, starting Q1 FY26.

Disney’s pivot mirrors what we have documented across our 50+ platform statistics pages: as services mature, engagement and unit economics become the more reliable signal, while net adds plateau or churn-cycle through promotional bundles. Public perception still lags the data shift by a year or more.

Disney+ ARPU Statistics

Average monthly revenue per paid subscriber tells a sharper story than subscriber counts alone, the same lens that’s reshaped how analysts read Spotify subscription data since the platform’s premium tier matured. Disney+ Domestic ARPU held at $8.09 monthly, unchanged sequentially, while Disney+ International ARPU rose 4% to $8.00, up from $7.67. On the Hulu side, Hulu SVOD-only ARPU declined 2% to $12.20 from $12.40, and Hulu Live TV plus SVOD ARPU was essentially flat at $100.02 versus $100.27.

• Disney+ Domestic ARPU (Q4 FY25): $8.09 monthly, unchanged sequentially.
• Disney+ International ARPU (Q4 FY25): $8.00 monthly, an increase of 4% from $7.67.
• Hulu SVOD-only ARPU (Q4 FY25): $12.20 monthly, a decrease of 2% from $12.40.
• Hulu Live TV plus SVOD ARPU (Q4 FY25): $100.02 monthly, essentially flat from $100.27.
• Domestic ARPU stability: Disney+ Domestic ARPU was $8.09, unchanged sequentially, suggesting the US ARPU has plateaued before the October 2025 hike flowed through.
• International ARPU lift: Disney+ International ARPU rose 4% from $7.67 to $8.00, the only Disney+ ARPU line to grow in Q4 FY25.

Source: The Walt Disney Company earnings release

Key finding: Per Disney’s Q4 fiscal 2025 release, Disney+ International ARPU rose 4% to $8.00 while Domestic stayed flat at $8.09 and Hulu SVOD-only fell 2% to $12.20. International markets absorbed pricing while a Hulu mix shift toward lower-tier plans dragged the SVOD line down.

Disney+ Geographic Distribution Statistics

The geographic split between Domestic and International Disney+ subscribers crossed an important threshold during fiscal 2024 and held through fiscal 2025. As of Q4 FY25, Disney+ Domestic accounted for 59.3 million subscribers and Disney+ International for 72.4 million, meaning international markets contribute the majority of the Disney+ subscriber base.

• Disney+ Domestic subscriber base: 59.3 million in the US and Canada, a minority share of the global Disney+ total.
• Disney+ International subscriber base: 72.4 million internationally, the majority share.
• Hulu subscriber base: Hulu’s 64.1 million total subscriptions, reported only at the combined Disney+ / Hulu level.
• India repositioning: Disney+ Hotstar’s India base merged into JioHotstar on February 14, 2025, removing India sub counts from Disney’s direct totals.
• Disney+ Domestic ARPU anchor: $8.09 monthly, the price baseline for the US/Canada base.
• Disney+ International ARPU anchor: $8.00 monthly, the price baseline for the larger international base.

The international-leaning subscriber mix matters for Disney+ in a way it does not for Netflix, because Disney’s international ARPU sits roughly half of Netflix’s UCAN figure. The growth play is volume internationally, and pricing power domestically, and the FY25 ARPU divergence shows international markets are starting to bear pricing without the churn that US subscribers have absorbed.

Disney Direct-to-Consumer Revenue Statistics

The Direct-to-Consumer segment, which houses Disney+, Hulu, and ESPN+ revenue, posted $24.614 billion in fiscal 2025 revenue, up 8% year over year, with Q4 alone contributing $6.248 billion (up 8%). The two fiscal 2026 quarters reported so far have accelerated that growth: Q1 FY26 SVOD revenue rose 11% to $5.35 billion, and Q2 FY26 SVOD revenue rose 13% to $5.49 billion, driven by the October 2025 price hike flowing through to the customer base.

• Full-year fiscal 2025 DTC revenue: $24.614 billion, up 8%.
• Q4 fiscal 2025 DTC revenue: $6.248 billion, up 8%.
• Q1 fiscal 2026 SVOD revenue: $5.35 billion, up 11%.
• Q2 fiscal 2026 SVOD revenue: $5.49 billion, up 13%.
• Disney company-wide fiscal 2025 revenue: $94.4 billion, up 3% from $91.4 billion.
• Q2 FY26 total Disney revenue: $25.17 billion, beating Wall Street expectations.
• DTC share of Disney company revenue (FY25): DTC delivered $24.614 billion out of Disney’s total $94.4 billion in fiscal 2025 revenue.

Disney DTC Operating Income and Margin Statistics

The operating-income story is the one Disney now wants in the headline. Full-year fiscal 2025 DTC operating income reached $1.327 billion, an order-of-magnitude jump from $143 million the prior year. The momentum carried into fiscal 2026: Q1 FY26 SVOD operating income increased $189 million to $450 million, resulting in an 8.4% operating margin, a 72% year-over-year rise, and Q2 FY26 operating income soared 88% to $582 million at a 10.6% operating margin, the first quarter to break the double-digit threshold.

• Full-year fiscal 2025 DTC operating income: $1.327 billion.
• Prior-year DTC operating income: $143 million.
• Q4 FY25 DTC operating income: $352 million, a 39% increase.
• Q1 FY26 SVOD operating income: $450 million, up 72% year over year.
• Q2 FY26 SVOD operating income: $582 million, up 88%.
• Q1 FY26 SVOD operating margin: 8.4%.
• Q2 FY26 SVOD operating margin: 10.6%, the first double-digit margin quarter.
• FY26 full-year operating margin guidance: 10%.
• Year-over-year operating-income improvement (FY24 to FY25): DTC operating income climbed to $1.327 billion, exceeding the prior year’s $143 million.

By the numbers: Disney’s DTC operating income climbed to $1.327 billion in fiscal 2025 from the prior year’s $143 million, and the segment cleared a 10.6% operating margin in Q2 FY26. With subscriber counts gone, the operating-income trajectory is now the public scoreboard, mirroring Netflix subscriber data reporting trend.

Disney+ Ad-Tier Adoption Statistics

Antenna’s tracking found that 20% of new Disney+ sign-ups were on the ad-supported plans in month 1, climbing to 36% by month 3, compared with 19% for Netflix and 21% for HBO Max. When Disney paired the ad-tier launch with a price increase, 94% of Disney+ Premium subscribers absorbed the higher price, 5% canceled, and less than 1% switched down to the ad-supported tier, a tax-base elasticity result that explains why Disney has continued the annual price-hike cadence. Disney has separately claimed 157 million monthly active users on its ad-supported services across Disney+, Hulu, and ESPN+.

• Disney+ ad-tier share of new sign-ups, month 1: 20%.
• Disney+ ad-tier share of new sign-ups, month 3: 36%.
• Netflix ad-tier share, month 3 comparable: 19%.
• HBO Max ad-tier share, month 3 comparable: 21%.
• Disney+ Premium subscribers who absorbed the price hike: 94%.
• Disney+ Premium subscribers who canceled: 5%.
• Disney+ Premium subscribers who switched to the ad-supported plan: less than 1%.
• Disney’s claimed ad-supported MAUs across Disney+, Hulu, ESPN+: 157 million.
• Industry comparison. Peacock ad-tier penetration: three out of four subscribers on ad-supported plans.
• Industry comparison. HBO Max ad plan share of subs: 20% of all HBO Max subscribers.

Disney+ Price Hike Statistics

Disney has now raised Disney+ prices three years in a row, a cadence that mirrors annual cycles documented across major subscription platforms in our Apple loyalty statistics coverage. The most recent increase took effect on October 21, 2025, lifting the ad-supported standalone Disney+ plan from $9.99 to $11.99 monthly, a $2 increase, and the Disney+ Premium ad-free plan from $15.99 to $18.99 monthly, a $3 increase. The annual Premium option moved up $30 to $189.99 per year, and Disney implemented the change after similar price hikes in October 2024 and October 2023, making this the third consecutive annual increase.

• Effective date of latest US price hike: October 21, 2025.
• Disney+ ad-supported monthly price (new): $11.99, up from $9.99.
• Disney+ Premium ad-free monthly price (new): $18.99, up from $15.99.
• Disney+ Premium annual price (new): $189.99 per year, up $30.
• Number of consecutive annual price hikes: Three, after the October 2024 and October 2023 increases.
• Disney+ ad-supported price-hike: The ad-supported tier rose from $9.99 to $11.99 monthly, a $2 increase.
• Disney+ Premium price-hike: The Premium tier rose from $15.99 to $18.99 monthly, a $3 increase.

Disney+ ESPN Tile and Bundle Integration Statistics

The ESPN tile launched on Disney+ on December 4, 2024, including 5,000 live events in the first 90 days featuring NFL, NBA, NHL, college basketball, and the Australian Open, plus new ESPN Original Series. ESPN delivers over 30,000 live sports events annually, including MLB, WNBA, college sports, tennis, and golf, all of which became surfaced inside the Disney+ app for bundle subscribers, a multi-service consolidation that echoes the bundling patterns documented in our App Store statistics coverage.

ESPN’s separate flagship direct-to-consumer streaming service then launched on August 21, 2025, bundled with Disney+ and Hulu at $35.99 monthly with ads, $44.99 monthly without ads, and a promotional first-year price of $29.99 monthly with ads.

• ESPN tile launch on Disney+: December 4, 2024.
• Live events in ESPN tile’s first 90 days: 5,000.
• ESPN annual live sports event volume: over 30,000 events.
• ESPN flagship DTC app launch date: August 21, 2025.
• ESPN unlimited bundle with Disney+ and Hulu (with ads): $35.99 monthly.
• ESPN unlimited bundle with Disney+ and Hulu (no ads): $44.99 monthly.
• ESPN bundle promotional first-year price: $29.99 monthly with ads.
• Direct quote from Alisa Bowen, President of Disney+ on ESPN integration: This gives our bundle subscribers one place to consume everything they love from all our brands.
• ESPN DTC subscriber economics in Q2 FY26: The new ESPN direct-to-consumer service is generating more revenue from digital subscribers than it lost.

Source: The Walt Disney Company press release on ESPN on Disney+; CNBC ESPN flagship app launch coverage

Disney+ Content Library and Engagement Statistics

Disney’s fiscal 2026 content investment plan calls for approximately $24 billion on content, up about $1 billion from $23 billion in fiscal 2025, split roughly half on sports for ESPN and half on entertainment programming.

The engagement payoff during fiscal 2025 showed up in two metrics Disney chose to publish: seven of the top ten most-watched shows of 2025 streamed on Disney+ or Hulu, and Bluey was the most-streamed show in the US for the second year in a row, with 45 billion minutes watched, a watch-time anchor that competes with the daily-attention windows tracked in our social media screen time data.

• Disney fiscal 2026 content spend guidance: approximately $24 billion.
• Disney fiscal 2025 actual content spend: approximately $23 billion.
• Year-over-year change in content spend: up about $1 billion.
• Approximate sports vs entertainment split (FY26): roughly half on sports and half on entertainment.
• Top-10 most-watched 2025 shows on Disney+ or Hulu: seven of ten.
• Bluey’s 2025 US watch-time total: 45 billion minutes.
• Bluey’s most-streamed show ranking: most-streamed show in the US for the second year in a row.
• Hulu international rebrand from Star: October 8, 2025, with Star retained only in Japan due to the pre-existing Hulu Japan service.
• CFO commentary on overproduction: CFO Hugh Johnston said the total content budget will continue to grow, but not at recent years’ levels when Disney and others were overproducing original content.

Source: Variety coverage of Hugh Johnston’s content-spend commentary; The Walt Disney Company Q1 FY26 executive commentary

Disney+ India: Hotstar to JioStar Transition Statistics

Disney completed the Hotstar transition through a two-step process. In November 2024, Disney completed the merger of its Indian television and streaming assets with Reliance Industries to form a joint venture known as JioStar, with Reliance Industries investing approximately $1.4 billion (₹11,500 crore) and the JV valued at ₹70,352 crore (~$8.5 billion) post-money.

The app-level merger came on February 14, 2025, when Disney+ Hotstar and JioCinema merged into JioHotstar. Reliance/Viacom18 holds 63.16% of the new entity, with Disney holding a 36.84% stake. JioHotstar offers content in 19 languages and produces 30,000 hours of television programming annually, targeting a mobile-first base whose device habits match the trends in our iPhone statistics tracking.

• JioStar JV close date: November 2024.
• Reliance investment into JioStar: approximately $1.4 billion (₹11,500 crore).
• JioStar post-money valuation: ₹70,352 crore (~$8.5 billion).
• Reliance/Viacom18 ownership stake: 63.16%.
• Disney ownership stake: 36.84%.
• App-merger date for Disney+ Hotstar and JioCinema: February 14, 2025.
• JioHotstar language support: 19 languages.
• JioHotstar annual TV programming hours: 30,000 hours.
• JioHotstar ad-supported plan price: ₹149 (about $1.71) for three months.
• JioHotstar ad-free plan price: ₹299 (about $3.45) per month.
• JioHotstar user target: more than 500 million users in India.

Source: TechCrunch coverage of JioStar JV close and JioHotstar app merger; JioStar transaction press release

Disney+ Launch History and Milestone Statistics

Disney+ launched on November 12, 2019, in the United States, Canada, and the Netherlands, attracting 10 million subscribers by the end of its first day of operation. The service then grew faster than any major streaming service in history: Disney+ reached 50 million paid subscribers by April 2020, with approximately 8 million of those from India, and it surpassed 100 million global paid subscribers in March 2021, just 16 months after launch, versus Disney’s original five-year forecast of 60 million subscribers.

Subscriber growth then matured through bundle pricing, content cycles, and the Hotstar transition; the company’s last reported figure was 132 million as of September 27, 2025.

• Disney+ launch date: November 12, 2019.
• Day-1 subscribers: 10 million.
• April 2020 subscribers: 50 million, with approximately 8 million from India.
• 100M-milestone date: March 2021, 16 months post-launch.
• Original five-year forecast: 60 million subscribers.
• Last officially reported subscriber count: 132 million at fiscal Q4 2025 close (September 27, 2025).
• Star general entertainment brand replaced internationally by Hulu: October 8, 2025.
• Star brand retained only in: Japan, due to the pre-existing Hulu Japan service.

Source: Wikipedia (sourced from Disney quarterly earnings releases); The Walt Disney Company Q4 FY25 release

Frequently Asked Questions (FAQs)

Conclusion

Disney+ now lives in two numbers: the 132 million subscribers Disney reported one last time at fiscal Q4 2025 close, and the operating-income trajectory that replaced sub counts as the public scoreboard. Direct-to-Consumer operating income climbed from $143 million to $1.327 billion in a single year, and Q2 FY26 cleared a 10.6% operating margin, the first double-digit quarter for Disney’s streaming bundle. The October 2025 price hike, the ad-tier mix climb, and the ESPN-on-Disney+ tile are leverage points behind those numbers, with the JioStar JV repositioning the India business under Reliance.

For analysts, the practical effect of the disclosure blackout is that Disney+ growth is now read through implied ARPU times-based math and through Disney’s commentary about local-content investment internationally. The 94% price-hike absorption rate from Disney+ Premium subscribers when the ad tier launched is the elasticity precedent that price-tracking analysts will watch as the October 2025 hike cycles through. Hulu SVOD ARPU and ESPN flagship-app cannibalization are the next two signals to track; each shows up in operating income within two quarters.