Prior to the quarterly earnings call Walt Disney Company last night, February 8, it was revealed that Disney+ had lost a small number of subscribers in the last three months of 2022.
2.4 million fewer subscribers, especially in India
The streaming platform Disney+ lost 2.4 million subscribers in the last three months of 2022. This is the first time the service has posted a net loss of subscribers in a quarter. Note that this loss of subscribers to Disney+ comes from Disney+ Hotstar, which was expected by the company, as the firm took the decision not to pay much higher rights fees to get the cricket league, broadcast in particular in the Indian territory. The subscribers Disney+ in the United States and Canada saw minor growth.
Moreover, disney will no longer disclose its quarterly subscriber count and instead focus on profitability.
Here’s what the CEO of disney, Bob Igerhad to say regarding the redesign of the Walt Disney Company :
“After a strong first quarter, we are embarking on a significant transformation, which will maximize the potential of our world-renowned creative teams and our unparalleled brands and franchises. We believe that the work we are doing to reshape our business around creativity, while reducing expenses, will drive sustained growth and profitability for our streaming business, position us better to weather future disruptions and global economic challenges. and will bring value to our shareholders. »
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