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Discovery's global paid streaming subscriber count hits 15 million

By Reuters

(Reuters) – Discovery Inc said on Wednesday its global paid streaming subscriber count had reached 15 million, as more people dropped their cable packages in favor of video-on-demand platforms.

Discovery, which had 13 million global paid streaming subscribers at the end of the first quarter, said the rise was driven primarily by its Discovery+ streaming service that was launched on Jan. 4.

The company is betting on unscripted programming in categories including food and home improvement available on its streaming service to compete with rivals Netflix and Disney+ that are popular for scripted shows.

Silver Spring, Maryland-based Discovery posted first-quarter revenue of $2.79 billion, edging past Wall Street estimates of $2.78 billion, according to Refinitiv IBES data.

This was helped by a strong recovery in ad sales in its networks internationally, and higher pricing in U.S. markets.

(Reporting by Eva Mathews and Helen Coster; Editing by Vinay Dwivedi)