Yahoo Finance reporter Allie Canal explains why more customers are canceling their streaming subscriptions as costs rise and more competitors enter the mix.
Walt Disney (NYSE: DIS) blew the market away with its second-quarter earnings report. It not only beat Wall Street predictions on its top and bottom lines but also catapulted the entertainment giant into the lead over rival Netflix (NASDAQ: NFLX) by adding 14.4 million new subscribers to its Disney+ streaming service. Disney now has 221.1 million subscribers to its various streaming services, compared to 220.7 at Netflix.
Disney may have overtaken Netflix in terms of total premium streaming subscribers, but it's lagging in just about every category that truly matters.