Disney’s streaming business has finally become profitable. In its Q3 earnings results released on Wednesday, the company reported making $47 million off Disney Plus, Hulu, and ESPN Plus. Like other streamers, Disney has struggled with making its streaming business profitable. At the same time last year, Disney Plus, ESPN Plus, and Hulu recorded a $512 million loss.
“This was a strong quarter for Disney, driven by excellent results in our Entertainment segment both at the box office and in DTC, as we achieved profitability across our combined streaming businesses for the first time and a quarter ahead of our previous guidance,” says Disney CEO Bob Iger in a statement. Meanwhile, Disney Plus added just under 1 million subscribers in the US and Canada, bringing its total to 54.8 million. Hulu subscribers also grew to 51.1 million, compared to 50.