Today in the connected economy, Disney’s latest earnings report shows it ahead of Netflix in terms of subscribers by just 1 million users. Also, digital eyewear company Warby Parker continues its brick-and-mortar expansion, and Tommy Hilfiger joins forces with resale platform thredUP.
Disney+ Subscribers Top Netflix Just as Consumers Rethink Streaming Media Costs
With 14.4 million new subscribers joining Disney+ during the quarter ended July 2, The Walt Disney Company’s streaming services — Disney+, ESPN+ and Hulu — can now boast more paid subscribers than Netflix.
According to the company’s earnings release, the three services have a total of 221.1 million paid subscribers, with Disney+ at 152.1 million, ESPN+ at 22.8 million and Hulu at 46.2 million. Netflix reported in July month that it had 220.7 million paid memberships at the end of the second quarter.
“We continue to transform entertainment as we near our second century, with compelling new storytelling across our many platforms and unique immersive physical experiences that exceed guest expectations, all of which are reflected in our strong operating results this quarter,” Disney CEO Bob Chapek said in the earnings release.
Warby Parker Accelerates Omnichannel Push
Online eyewear brand Warby Parker, is moving deeper into omnichannel territory by opening 40 new locations by year’s end, bringing its store count to 201.
“Now that our mix shift looks more like it did in 2019 in terms of where orders are being placed in stores versus online, we do have confidence that our stores serve as billboards and don’t need as much marketing support [as eCommerce],” Co-founder and Co-CEO Dave Gilboa told investors on the company’s second-quarter earnings call.
“In general, we tend to see that our eCommerce business is more highly correlated with marketing spend and performance marketing dollars,” Gilboa added, saying the environment looks more like it did in 2019 versus during the pandemic.
Tommy Hilfiger Partners With thredUP, Expands Involvement in Resale Trend
As its involvement in the resale trend grows, Tommy Hilfiger is working with online resale platform thredUP to let consumers buy and sell secondhand apparel, shoes and accessories.
The companies’ “360-resale” program lets consumers in the U.S. use a prepaid shipping label to send women’s and kids’ items from any brand and men’s items from Tommy Hilfiger to thredUP, and recieve Tommy Hilfiger shopping credit for any items that thredUP selects for resale.
“We’re excited to launch this program with thredUP, which helps us create more value out of our existing product and connect with our consumers in a new way,” said Esther Verburg, executive vice president of sustainable business and innovation at Tommy Hilfiger Global and PVH Europe.
Square Partners With Digital Signage Company Raydiant
Payments company Square and experience platform Raydiant have teamed up to let Square merchants integrate with Raydiant’s Digital Menus app.
The companies say the integration allows merchants to create, schedule and automatically update digital signage connected to their Square point-of-sale (POS) systems.
“Restaurant and retail merchants just endured potentially the most difficult two years of business they’ve ever had,” said Raydiant CEO Bobby Marhama. “They want simple, streamlined processes that keep sales up, employees happy and customers loyal. For the first time ever, this simplification of a tedious back-end process allows retailers to shift their focus from operations to hospitality.”
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More