February 23, 2024

Disney+ lost 1.3 million subscribers. Is it just the subscription price increase?

Szymon Karbowski
Disney+ lost 1.3 million subscribers. Is it just the subscription price increase?

Disney+ lost 1.3 million users on its video streaming platform in the final quarter of last year. Is this a result of the bundle price increase that the operator has introduced for autumn 2023? Interestingly, at the same time, Disney+ managed to reduce its streaming losses by as much as $300 million.

It's been more than two weeks since Disney announced its quarterly results and the news of a decline in subscribers to its streaming platform. These figures cover not only the US and Canada, but also the entire world (they only exclude Disney+ Hotstar). In the corresponding period of 2022, Disney+ subscribers were 112.6 million, and in the last quarter of 2023 they were 111.3 million.

The financial profit and user growth forecast for the first quarter of 2024 is very promising for world leader Disney+. Growth is expected to be as high as 6 million new or returning users.
The subscriber growth on Disney+ Hotstar, which was as high as 700,000 between October and December 2023, is impressive. Is this a breakthrough after the recent loss of up to 12.5 million subscribers following the platform's loss of major sports rights deals in the region?

In total, Disney had 149.6 million streaming subscribers at the end of 2023 (a decrease of 0.3 million compared to the previous corresponding period in 2022). Disney's content integration with the Hulu platform began in early December last year, and a more integrated version of the platform is expected to be available in March this year.

I wonder: Is Bob Iger's company finally breaking its losing streak? Recently released reports and statements from The Disney World Company, along with revenue projections out to the end of 2024, suggest that the streaming business itself is finally going to become profitable, and that the losses in that business are going to be reduced. In the first quarter of this year, losses were reduced by as much as $300 million. The company is keeping a close eye on its declared savings and, if it can maintain this plan, will have saved $7.5 billion by the end of this year.

Walt Disney Company CEO Bob Iger's ambitious plan to restore sustainable growth and create valuable content, outlined in his letter to shareholders, may finally be coming to fruition? In his letter, Iger specifically highlighted that his main goals for the future are to strengthen ESPN, return the streaming service to profitability, revitalize the film studios and develop the Disney parks. Whether his plan will be 100% successful and the company will once again be a strong global leader in the entertainment industry, we will all find out in the coming months?

#SzymonKarbowski #StreamVX #videostreaming #Disney #Hulu #Hotstar #BobIger #subscribers #price

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