In 2023, many large companies were looking for savings, which was particularly visible in job cuts and price increases for specific services. This second aspect mainly affected streaming platforms such as Disney+. The recently released quarterly report by The Walt Disney shows that their service has lost over a million subscribers. Overall, however, it doesn’t do too badly, which is confirmed by the rest of the information provided.
The latest report by The Walt Disney for the first quarter of fiscal year 2024 indicates that the Disney+ platform lost over a million subscribers during this period. However, compared to the increases the company applied, this is a very small loss.
In the case of subscriber loss, we are talking about exactly 1.3 million existing users. This translates into a decline from 112.6 to 111.3 million subscriptions to the Disney+ Core plan (available in the US, Canada and for “foreign users outside India” – because the latter offers the Disney+ Hotstar service, which interestingly saw an increase in subscribers by 700 thousand in the same period). However, the Disney-affiliated Hulu platform boasts another 1.2 million subscribers (an increase from 43.9 to 45.1 million). The company predicts that in the second quarter of 2024, an additional 5.5 – 6 million people will pay for the Disney+ service, and the platform’s profitability will be achieved in the fourth quarter of this year.
Pirated movie websites are gaining popularity again. The reason is the current situation of VOD services such as Netflix and Disney+
The quarter closed with a fairly large operating loss of $224 million. This state of affairs was largely due to the poor results of two productions: The Marvels (5.6/10 IMDb) and The Wish (5.7/10 IMDb) – compared to the previous period when: Avatar: Water Creature made its debut , or Black Panther: Wakanda in My Heart. It must be admitted that, taking into account all the statistics and actions taken by The Walt Disney (such as increasing the subscription price or making it more difficult to share one account), the company did really well. If we want to read the entire report, we can find it at this address.