Disney’s streaming business is picking up momentum

Disney Plus and Hulu saw another leap in profitability over the past few months. In its second fiscal quarter earnings results released on Wednesday, Disney revealed that the services’ combined operating income grew to $336 million, up from $47 million during the same time last year.

Disney’s streaming business became profitable last August, and its operating income has been on an upward trajectory since. Paramount Plus, NBC’s Peacock, and Warner Bros. Discovery’s Max all turned a profit last year as they tried to catch Netflix, which has moved beyond reporting subscriber numbers.

The entertainment giant also reported gaining 1 million Disney Plus subscribers in the US and Canada, making for a total of 57.8 million. The increase in profitability and subscribers comes just months after Disney raised prices across its services and implemented a password sharing crackdown, which charges viewers an extra $6.99 per month to share their account with someone outside their household. During an earnings call on Wednesday, Disney CEO Bob Iger said paid sharing on Hulu is “kicking in” as well.

Disney Plus recently added an ESPN tile and a bite-sized version of SportsCenter in preparation for the launch of its standalone ESPN streaming service this fall. Iger said the company will share pricing and launch timing “very soon.” He previously teased the upcoming streaming service in February, saying the company will make it ESPN “however the consumer wants it, wherever the consumer wants it.”