Most of the defections came from the Disney+ Hotstar offering in India after it lost streaming rights to Indian Premier League cricket matches. Disney also shed 300,000 customers in the United States and Canada, where it raised prices last December.
Why is Disney Plus losing subscribers?
The decline is almost entirely due to Disney Hotshot, its Indian streaming service, which lost the rights to stream the Indian Premier League in 2022. While it may look bad for Disney Plus to be in decline, outside of Hotstar it has continued to grow its subscriber count, albeit it at a slower rate.
Why is Disney streaming service losing money?
However, the narrower loss wasn't due to a surge in new sign-ups — as noted above, Disney+ said adios to millions of subscribers. It was due to price hikes that boosted revenue, which means Disney is now squeezing more cash out of fewer people.
Did Disney lose 1.5 billion in streaming?
Walt Disney Co. will record a $1.5 billion expense related to programming it's removing from the Disney+ streaming platform. The expense is part of a previously announced plan to write down some programming, the company said in a filing Friday, and will be recorded in the current fiscal third quarter.
How many Disney Plus subscribers lost?
Record Decline: Why Disney+ Lost Another 4 Million Subscribers.
Disney Loses Over 4 MILLION Subscribers On Disney+, Stock Falls! | This Is A Woke Streaming DISASTER
Is Disney Plus losing subscribers 2023?
Disney+ shed another 4 million subscribers in the first three months of 2023, marking the streamer's second consecutive quarterly drop after closing 2022 with its first-ever decline.
How many subscribers did Disney Plus lose 2023?
In the second quarter of 2023, the number of global Disney+ subscribers dropped for the second time since it launched in November 2019 to 157.8 million. This marked a decline of four million compared with the previous quarter as the Indian brand Disney+ Hotstar, in particular, reported subscribers losses.
Why is Disney losing customers?
This drop is largely due to an increase in pricing, making it more difficult for middle-class families to afford a trip. To combat their dropping numbers, Disney is making changes, such as bringing back the Disney Dining plan – which makes food at the park more affordable, and replacing Genie+.
Is Disney currently losing money?
Disney is facing massive losses, even after a summer full of big releases. According to box office analyst Valliant Renegade, Walt Disney Co. has lost nearly $900 million following its last eight studio releases, including box office flops like LIGHTYEAR and STRANGE WORLD.
Is Disney doing well financially?
–The Walt Disney Company (NYSE: DIS) today reported earnings for its second quarter ended April 1, 2023. Revenues for the quarter and six months grew 13% and 10%, respectively. Diluted earnings per share (EPS) from continuing operations for the quarter increased to $0.69 from $0.26 in the prior-year quarter.
How is Disney in debt?
Disney long term debt for the quarter ending March 31, 2023 was $45.066B, a 3.34% decline year-over-year. Disney long term debt for 2022 was $45.299B, a 6.68% decline from 2021. Disney long term debt for 2021 was $48.54B, a 8.27% decline from 2020.
Is Disney losing viewers?
Ahead of the Walt Disney Company's quarterly earnings call today, the Bob Iger–run company revealed that Disney+ saw a loss of 4 million subscribers. The numbers mark a continued decline for the streamer, having lost 2.4 million in its last quarter of 2022.
What titles are Disney removing?
The titles, which are being removed from Disney's streaming services globally, include Disney+'s Willow, Big Shot, Turner & Hooch, The Mighty Ducks: Game Changers, Just Beyond, Diary of a Future President, The Mysterious Benedict Society and The World According to Jeff Goldblum and Hulu's Y: The Last Man, Dollface, The ...
How much money did Disney lose in 2023?
Disney has announced revenues for the fiscal second quarter of 2023 were up 13 per cent year-over-year (YoY) to US$21.82 billion, with its direct-to-consumer (DTC) segment narrowing its operating losses by 26 per cent YoY to US$659 million.
How many people left Disney?
Disney officials said Monday that they don't take the departure of so many colleagues lightly. Eliminating 7,000 jobs from its workforce equates to about 3% of the roughly 220,000 people Disney employed as of Oct.
Which streaming service has the most subscribers?
1. Netflix. With over 232 million subscribers to its name as of the first quarter of 2023, Netflix remains the most popular streaming service.
Why are Disney profits down?
During the three-year tenure of Iger's replacement Bob Chapek, Disney posted its smallest annual profits in over a decade thanks largely to mounting losses in streaming, which has lost at least $290 million in each quarter since the company first reported unit-specific financials in December 2020.
Is the Disney company struggling?
Disney's stock has been down 50% in the last two years while the market is flat. Iger replaced Bob Chapek in November 2022, but the two-year-old slide covers the period during which Iger restructured Disney. In the most recently reported quarter, Disney segment operating revenue rose 8% to $21.8 billion.
Did Disney lose money on Lightyear?
The trade explains that, even with a total of $267 million in revenue from its theatrical and home entertainment releases, Lightyear lost a whopping $106 million. Its expenses totalled $373 million, and a performance like this means the movie is a rare misfire for Pixar.
Why was Disney stock downgraded?
Disney's stock was downgraded this week by investment advisory company KeyBanc Capital Markets over fears of stalled growth at its Disney+ and Hulu streaming services and lower attendance at its theme parks, according to reports.
Why is Disney buying so many companies?
The Walt Disney Company was founded in 1923 and since 1996 has acquired many properties to increase its size in the media industry.
Who is the CEO of Disney?
The Walt Disney Company has announced that Bob Iger will remain CEO for two additional years, extending his contract through Dec. 31, 2026.
Who owns Disney?
Disney is owned by many shareholders, as it's a publicly traded company. According to CNN Business News, the Vanguard Group, Inc. is the largest shareholder of Walt Disney Co.
Is Disney becoming more mature?
Disney+ will become more mature beginning Wednesday, bringing in a slew of mature Marvel shows that will reshape how the app operates. On Wednesday, Disney will add new Marvel shows rated TV-MA that were originally released on Netflix.