Disney Plus Reduces Streaming Business Losses By $400 Million Despite Losing 4 Million Subscribers
According to a newly released earnings report, Disney+ experienced a decline in subscribers for the second consecutive quarter in the first three months of 2023, with 4 million customers dropping the service. The company had also seen a decline in subscribers at the end of 2022.
However, there was some positive news for the company, as they reported a reduction in streaming business losses by $400 million, which is a 26% year-over-year decrease.
At the end of the first quarter of 2023, Disney+ had 157.8 million subscribers, which Variety clocked as lower than Wall Street’s anticipated 163.17 million. The decline in subscribers was driven by a sequential drop of 4.6 million in Disney+ Hotstar, the version of the service available in India and Southeast Asia.