Credit: DisneyDisney’s in-house streaming service is bleeding subscribers following multiple price hikes in 2023. bafd
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The Walt Disney Company launched Disney+ in 2019, forever changing the streaming landscape. While it was a newcomer, Disney+ quickly found its place besides industry giants like Netflix, Hulu, HBO Max, and Amazon Prime Video. Disney’s subscriber base grew exponentially, thanks to a selection of great content, ranging from classic television shows like The Simpsons to an endless stream of Marvel and Star Wars films and original series.
Regardless of this initial success, Disney+ has failed to turn a profit for Disney, operating at a loss multiple years in a row. To make matters worse, Disney+ actually lost subscribers in late 2023. This news comes after The Walt Disney Company held its Q1 2024 earnings call Wednesday evening, in which CEO Bob Iger discussed a multitude of exciting projects and impressive financial figures.
Between October and December 2023, Disney+ lost a total of 1.3 million subscribers globally. What makes this interesting is that Disney actually made more money due to multiple price increases for the service. Disney is quite positive about the direction Disney+ will take in 2024, with the company expecting to add up to six million subscribers in the current quarter, which ends in March.
“While subscriber growth will vary from quarter to quarter, we are confident in our prospects for ongoing sub growth over the longer term,” said Hugh Johnston, Disney’s chief financial officer.
Johnston admitted that the 1.3 million loss was due to “recent domestic price increases.”
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Regardless of subscriber count, in the short amount of time Disney+ has been on the market, it’s quickly become one of the most well-known and robust streaming services out there. Disney+ acts as home to all things Marvel Studios, Star Wars, Lucasfilm, and Pixar and is only growing.
In 2023, Disney integrated Hulu into the platform in a new merger that brought hundreds of Hulu titles to the family-focused platform.
Do you have Disney+? What’s your go-to streaming service?