Disney+ Loses 1.3 Million Subscribers
Today, the Walt Disney Company has released its latest quarterly results for the fiscal first quarter of 2024, and that means we get an updated look at how many subscribers Disney+, Hulu, and ESPN+ have.
This gives us a clear indication of how the apps are doing, especially with growth or decline in subscriber numbers. These subscriber numbers are based on how many there were on December 30th, 2023.
Disney+ now has over 149.6 million subscribers globally, which is down slightly from 150.2 million subscribers last quarter. In the US and Canada, they only went down by around 400,000 subscribers. However, Disney+ subscribers in other areas, including Latin America, Europe and Asia, are also down about 900,000 subscribers. However, Disney+ Hotstar subscribers in India were slightly up on last quarter.
Hulu subscribers increased by 1.2 million from the prior quarter. Disney+ Core subscribers decreased sequentially by 1.3 million, in line with prior guidance and reflecting a substantial price increase in the quarter as well as the end of the global summer promotion. Disney+ Core ARPU increased sequentially by $0.14 versus the fourth quarter
1.3 million subscribers were lost, but we are expecting a boost in the next quarter by 5.5 million to 6 million subscribers. Disney has been able to reduce its costs by nearly $300 million versus the prior quarter and is expecting to reach profitability in their combined streaming businesses in the fourth quarter of fiscal 2024,
Disney CEO Bob Iger said in a statement:
Just one year ago, we outlined an ambitious plan to return The Walt Disney Company to a period of sustained growth and shareholder value creation. Our strong performance this past quarter demonstrates we have turned the corner and entered a new era for our company, focused on fortifying ESPN for the future, building streaming into a profitable growth business, reinvigorating our film studios, and turbocharging growth in our parks and experiences.
As we build for the future, the steps we are taking today lend themselves to solidifying Disney’s place as the preeminent creator of global content. Looking at the renewed strength of all of our businesses this quarter – from Sports, to Entertainment, to Experiences – we believe the stage is now set for significant growth and success, including ample opportunity to increase shareholder returns as our earnings and free cash flow continue to grow.”
Disney has also provided a detailed breakdown per region: (Million)
- Disney+ – Global – 149.6
- Disney+ – Domestic (US & Canada) – 46.1
- Disney+ – International excluding Disney+ Hotstar+ – 65.2
- Disney+ Core – (excluding Hotstar) – 111.3
- Disney+ Hotstar –38.3
- Hulu – Million Subscribers (US Only) – 49.7
To compare, here are the subscription numbers (Millions) from November’s Investor Call:
- Disney+ – Global – 150.2
- Disney+ – Domestic (US & Canada) – 46.5
- Disney+ – International excluding Disney+ Hotstar+ – 66.1
- Disney+ Core – (excluding Hotstar) – 112.6
- Disney+ Hotstar – 37.6
- Hulu – Million Subscribers (US Only) – 48.5
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