Enough of only Netflix being the poster boy of subscriber loss. It is a bad time to exist even for other streaming giants such as Disney+. You might be aware that Disney+ changed its CEO as Bob Iger claimed the position.
If you remember then Disney+ was born in 2019 and they grew exponentially since then. Marvel, Star Wars, Nat Geo documentaries and so much more along with Hulu and ESPN+ made it a perfect streaming service.
At one time, it was the most subscribed platform if we consider the whole Disney+ package along with Hulu and ESPN+. Regardless, Disney+ lost a net 2.4 million subscribers in the last three months of 2022.
This loss is mainly due to the loss of subscribers for Disney+Hotstar. If you remember then last year, Disney+Hotstar accounted for 37% total revenue of the company. But then the streaming rights of IPL went away!
It is a well-known fact that the humongous subscriber base of Disney+Hotstar has a big contribution from the fans of IPL. Since that went away, so did 3.8 million subscribers from India and other parts of South East Asia.
You might remember that Disney+ introduced an ad supported tier on their platform by taking inspiration from their Indian counterpart. But it had a little to no impact on the revenues earned by the platform.
So last quarter was not at all desirable, let’s see what else happens.