{"id":94541,"date":"2023-05-11T04:07:16","date_gmt":"2023-05-11T04:07:16","guid":{"rendered":"https:\/\/tahrir2day.com\/news\/2023\/05\/11\/disney-streaming-business-loses-4m-subscribers-in-first-quarter\/"},"modified":"2023-05-11T04:07:16","modified_gmt":"2023-05-11T04:07:16","slug":"disney-streaming-business-loses-4m-subscribers-in-first-quarter","status":"publish","type":"post","link":"https:\/\/tahrir2day.com\/news\/2023\/05\/11\/disney-streaming-business-loses-4m-subscribers-in-first-quarter\/","title":{"rendered":"Disney+ streaming business loses 4m subscribers in first quarter"},"content":{"rendered":"
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According to Disney, its flagship streaming service lost 4 million subscribers in the first three months of the year due to a broader cost-cutting effort.<\/b><\/p>\n<\/div>\n

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At the same time, the Disney+ platform trimmed its losses by $400 million (\u00a3316.5 million).<\/p>\n<\/div>\n

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The home of Mickey Mouse, the Star Wars franchise and Marvel films is under pressure to make its streaming business profitable as the traditional film and television market shrinks.<\/p>\n<\/div>\n

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Shares of the company fell about 5% in after-hours trading in New York.<\/p>\n<\/div>\n

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  • Why ‘the happiest place’ is suing the Florida governor<\/li>\n
  • Disney is cutting more jobs as part of its ongoing restructuring<\/li>\n<\/ul>\n<\/div>\n<\/div>\n
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    Most of the subscriber losses came from its Hotstar service in Asia, which lost streaming rights to Indian cricket matches last year.<\/p>\n<\/div>\n

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    Disney+ also lost around 300,000 customers in the US and Canada as a result of the increase in subscription prices.<\/p>\n<\/div>\n

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    This comes as Disney’s streaming business trimmed its operating losses to $659 million in the first three months of this year. That was down from $1.1 billion in the previous quarter.<\/p>\n<\/div>\n

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    Disney CEO Bob Iger said the improved financial performance reflected “the strategic changes we’ve made across the business to position Disney for sustained growth and success.” <\/p>\n<\/div>\n

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    He previously said Disney+ has reached a “tipping point” and will be profitable next year.<\/p>\n<\/div>\n

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    Earlier this year, the entertainment giant reported falling subscribers for the first time and announced plans to cut 7,000 jobs.<\/p>\n<\/div>\n

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    The latest announcement comes after thousands of Hollywood television and film screenwriters last week held their first strike in 15 years.<\/p>\n<\/div>\n

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    They are demanding better wages and working conditions as the transition to streaming has turned the traditional TV and film industry upside down.<\/p>\n<\/div>\n

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    The last writers’ strike was in 2007. It lasted 100 days and cost the industry an estimated $2 billion.<\/p>\n<\/div>\n

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    On Wednesday, Disney’s CFO Christine McCarthy declined to say how much the latest strike could cost the company.<\/p>\n<\/div>\n

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    The strike has already halted several Disney projects, including those set to run on Disney+. <\/p>\n<\/div>\n

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    Disney has poured billions of dollars into its streaming platforms over the past few years, evolving from a company with its roots in traditional television, movies, and theme parks into one of the biggest players in the streaming industry.<\/p>\n<\/div>\n

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    The company now has more than 231 million combined subscriptions across its three streaming platforms, which also include sports-focused ESPN+ and broader entertainment site Hulu.<\/p>\n<\/div>\n

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    Disney+ has nearly 158 million subscribers worldwide, but that still lags behind competitor Netflix’s 232.5 subscribers.<\/p>\n<\/div>\n

    \n

    You may also be interested in:<\/b><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

    According to Disney, its flagship streaming service lost 4 million subscribers in the first three months of the year due to a broader cost-cutting effort. At the same time, the Disney+ platform trimmed its losses by $400 million (\u00a3316.5 million). The home of Mickey Mouse, the Star Wars franchise and Marvel films is under pressure […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-94541","post","type-post","status-publish","format-standard","hentry","category-business"],"yoast_head":"\nDisney+ streaming business loses 4m subscribers in first quarter - Tahrir News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tahrir2day.com\/news\/2023\/05\/11\/disney-streaming-business-loses-4m-subscribers-in-first-quarter\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Disney+ streaming business loses 4m subscribers in first quarter\" \/>\n<meta property=\"og:description\" content=\"According to Disney, its flagship streaming service lost 4 million subscribers in the first three months of the year due to a broader cost-cutting effort. 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