Disney Plus: Netflix loses more than 1 million subscribers to new streaming app

According to a new survey, Disney Plus garnered 24 million subscribers in the US since the official launch.

Netflix loses over 1 mn subscribers to Disney Plus: Report (AP)

Streaming giant Netflix lost a whopping over 1.1 million subscribers to Disney Plus which has hardly been in the game for a month. According to a poll conducted by analytics firm Cowen & Co. 24 million people in the US subscribed to Disney Plus since its launch, while 5.8 per cent of Netflix users cancelled their subscriptions to make the switch.

As per the survey, 21 per cent of the total respondents said they signed up for Disney Plus in November, suggesting the 24 million customer base exiting the month, Variety reported recently. The estimates come from the research team at Cowen &Co., based on a census-weighted survey of 2,500 US consumers conducted last month.

That would blow away previous Wall Street forecasts for Disney Plus, which had pegged less than 20 million subs worldwide for 2020 even after factoring in the expected lift from the one-year-free offer from Verizon for certain customers, the report added.