Disney+ overtakes Netflix in subscribers, as it begins to launch a new ad-supported streaming service in the US.

Disney has reported that they have 221.1 million subscribers across its streaming platforms at the start of July. This is the first time the company has outcompeted its rival, Netflix, which has recently been losing subscribers over the last few months.Disney currently runs three streaming platforms, which include Disney+, Hulu and ESPN+.The company received an additional 14.4 million subscribers to its Disney+ platform this quarter, many of whom are outside the US, surprising several analysts.

However, Netflix lost nearly one million accounts in the most recent quarter, placing its subscriber total at 220.67.Paolo Pescatore, an analyst at PP Foresight, has stated that the results "firmly underline my belief that Disney is at a different phase of growth to Netflix."

There are still millions of users to acquire as it continues to expand into new markets and rolls out new blockbuster shows."Later this year, Disney will be releasing a new ad-funded service, which will cost the current subscription rate for Disney+ of $7.99 (£6.54). After the launch of this service, the ad-free version will rise to $10.99 (£8.99) per/month.Executives of the company have argued that they do not expect this rise in prices to put off customers in the long term. This move has been made in the hope that the strong interest that they have seen from companies wanting to advertise will pay off.