Disney has failed to increase its subscriber numbers this year. Before the quarterly earnings call of the Walt Disney Company Today, the corporate led by Bob Iger revealed that Disney+ lost 4 million subscribers.
These numbers mark a continuation in the decrease of the service of streaminghaving lost 2.4 million in the last quarter of 2022. Most of the subscriber losses this time around are in India and parts of Asia, where Disney+ is presented as Disney+ Hot Stardue to the fact that the company recently lost the broadcasting rights to Indian Premier League cricket matches.
Meanwhile, streaming services owned by Disney, hulu and ESPN+, they have kept their subscriber numbers strong, the former gaining 200,000 subscribers and the latter gaining 400,000. Iger also announced a plan to make the content of hulu be available at Disney+ as part of a “one-app experience” before the end of the calendar year.
Despite the subscriber numbers, the company overall managed to beat Wall Street expectations for the quarter, thanks to revenue from its theme parks and continued devastating layoffs. Disney+ it has even cut its streaming losses by 26 percent, an improvement over last year. Also, during the earnings call, the CFO of DisneyChristine McCarthy, announced that Disney+ will follow the example of HBO Max and will remove content.
“We will be removing certain content from our streaming platforms and currently expect to incur an impairment charge of approximately $1.5 to $1.8 billion,” McCarthy told investors.
He then went on to say that this plan will be implemented as early as the third quarter and that the streaming service will produce “lower volumes of content,” a strategy taken from the playbook established by David Zaslav at WarnerMedia, home of HBO Max (soon Max). It has not yet been announced what specific content will be removed from Disney+ and if they will be kept in some kind of warehouse.
Via: vulture
Editor’s note: I think more and more people should realize that they don’t have to be paying for all streaming services, it’s enough to pay a couple that you’re really using. I loved Disney+ when i decided to marathon Star Wars, but apart from that, I only enter the platform when a series as popular as The Mandalorian.
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