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Q2 was a tipping point in streaming wars. Here's how the media giants stack up - CNBC
Aug 07, 2020 1 min, 38 secs

There's no question the second quarter was a transformative one for the streaming video business, with consumers streaming an unprecedented volume of internet content and signing up for streaming services in unprecedented numbers.

The company announced that Disney+ has surpassed 60 million subscribers, four years ahead of its goal of reaching between 60 and 90 million by 2024.

Netflix, the leader in the subscription streaming media space, also saw its numbers soar in the second quarter: adding over 10 million subscribers, to end the quarter with nearly 193 million subscribers.

Not only did those subscriber additions soar past expectations, but it follows the unprecedented addition of 15.7 million subscribers in the first quarter.

Netflix shares plummeted on the warning that the company expects to add 2.5 million subscriber adds in the third quarter, half of analysts' forecast.  Netflix explained this was the result of the pandemic "pulling forward" subscriber growth into the first half of the year.

And of course occasionally there's Hamilton and you're going to go to someone else's service for an extraordinary film, but for the most part we want to be the one that can always please you.".

That was due to a combination of growth in domestic paid streaming subscribers, adding about 3 million over the course of the quarter to end the quarter with 16.2 million, while free ad-supported Pluto TV's domestic monthly active users grew adding about three million over the course of the quarter.  .

But with the persistent cord-cutting trend, HBO Max may just be helping to counter cord cutting: the traditional HBO service lost over 2 million subscribers in the first quarter.

For the latter, AT&T CEO John Stankey said the company signed up nearly 3 million new subscribers, while just 4.1 million of HBO's existing subscribers activated the app. .

Meanwhile Peacock, which doesn't charge a fee for its basic service but relies on viewers to generate ad dollars, reported hitting 10 million signups?

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