Disney-owned streaming services saw no user growth last quarter. On the contrary. A report provided by the company shows that the number of streaming customers decreased from 112.6 million recorded in the previous quarter to 111.3 million. This data includes active Disney+ subscribers worldwide.
The increases caused an outflow of subscribers from Disney+
The lower number of users using the service is due to the increases that Disney+ introduced at the end of last year. In Poland, it was also decided to increase the price list for current service customers. The price for a month of use from December increased by PLN 9, and the annual subscription by PLN 90.
However, the American company is optimistic and expects that the situation will change. According to forecasts for the current quarter, Disney+ will gain between 5.5 and 6 million new subscribers by the end of March. The Disney+ Hotstar service operating in India, whose results are not included in quarterly reports, can boast of reaching 700,000. new subscribers.
In total, at the end of 2023, 149.6 million subscribers around the world used Disney’s streaming services, which indicates a decline compared to the previous quarter, when the company boasted 150.2 million users. However, there are also visible increases here and there. The popular Hulu platform in the US recorded an increase in subscribers by 1.2 million compared to the previous quarter.
A company with less loss. He hopes that his plan will be implemented quickly
Despite this, in communications with investors, the company still claims that profitability in the streaming segment is possible by the end of the current fiscal year. In the last quarter, losses were reduced by $300 million compared to the previous period, of which losses in streaming amounted to $138 million. This translated into an increase in streaming revenues by 15% to $5.5 billion.
In total, Disney saved $500 million this quarter, and in the report the company says it is close to achieving its goal of $7.5 billion in savings by the end of the current fiscal year. It is quite possible that Disney will even manage to exceed the total savings during this time.
The Walt Disney Corporation’s revenues were the same as in the previous year, i.e. $23.5 billion. However, operating profit amounted to USD 3.8 billion, which means an increase of 27% over the year. Meanwhile, gross profit is USD 2.9 billion (an increase of 62%). Converting this into shares, it is USD 1.22 (or 23% more than a year ago).
Source: Gazeta
Bruce is a talented author and journalist with a passion for entertainment . He currently works as a writer at the 247 News Agency, where he has established himself as a respected voice in the industry.
