December 8, 2023

Taylor Daily Press

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Disney+ lost 10 million subscribers in 3 months

Disney+ lost 10 million subscribers in 3 months

Disney+ had 146.1 million subscribers in the quarter, compared to 157.8 million in the first quarter. The 7.4 percent contraction is largely explained by the loss of broadcasting rights for popular cricket matches in India.

The company is also locked in a competitive battle in the streaming market with Netflix, Amazon Prime, HBO MAX and others. Due to high inflation, people are becoming more cautious about spending on streaming services, even though Netflix gained more subscribers last quarter.

After Netflix, Disney also announced that it will restrict account sharing outside the home. Disney will be working on it next year, but didn’t give more details. Tariffs have already been raised in the United States.

Disney also owns theme parks and theme parks, the ESPN sports channel and a movie division, which also includes studios such as Pixar Animation, Lucasfilm, and Marvel Studios. The entertainment and media group had a net loss of $460 million. This was in part due to the costs of cutting 7,000 jobs. A year ago, a profit of $1.4 billion was booked. Sales were $22.3 billion (+4%).

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