Disney+ saw a decline of 700,000 subscribers in the last quarter of 2024, which represents the first fiscal quarter of 2025 for the Walt Disney Company. Excluding the Hotstar service in India, Disney+ now has 124.6 million subscribers.
ESPN+ also ended up losing 700,000 subscribers. However, Hulu turned the tables in the last quarter, adding over 1.6 million subscribers, taking its total count to 53.6 million. Despite losing subscribers via Disney+ and ESPN+, the overall streaming business of Disney remained profitable in the last three months of 2024.
One of the key reasons behind the loss of subscribers for Disney+ is the price hikes. Another is the expiration of certain promotions. Disney surpassed Wall Street’s modest expectations thanks to a highly successful performance by its film division. This success was largely driven by the blockbuster movie Moana 2, which earned over $1 billion worldwide.
Mufasa: The Lion King also provided substantial support, which has now minted over $650 million globally.
Nielsen data shows Disney led all media companies in total TV viewership in the last quarter, with only YouTube as a close competitor.
Yahoo Finance predicted Disney would report first-quarter earnings of $1.43 per share on $24.55 billion in revenue. Disney exceeded these expectations, reporting adjusted earnings per share of $1.76 and revenue of $24.7 billion.
Disney+’s and Hulu’s strong performance was driven by popular shows like Bluey, Grey’s Anatomy, and animated shows such as Family Guy and The Simpsons. While holiday favourites like Hocus Pocus and Home Alone provided a seasonal boost, the biggest draw for Disney+ in November was the streaming premiere of Marvel Studios’ Deadpool & Wolverine. Stay tuned for more updates.