Disney Plus flourishes during pandemic, still a decline in stock

(KYMA, KECY/ CNN) - The Coronavirus pandemic has devastated many businesses, but Disney Plus found a way to stay afloat with its streaming service.

The entertainment and media conglomerate carried the company through the pandemic, which hit Disney across all of its businesses, including parks being closed for more than a year.

The platform grew to more than 103 million subscribers in a little more than a year. It did fall short of the 110 million subscribers as expected, but when it comes to profits, Disney rebounded in a big way.

The company reported earnings of $912 million in the most recent quarter, up 95% from $468 million last year.

Still, there are concerns about lags in the platform's growth that have caused a decline in stocks. One reason potentially being the company raising the cost of its monthly subscription by $1 in March.

Disney CEO, Bob Chapek, said the company did not observe any significant cancellations since the price increased.