Posted on 05/15/2023 8:54:25 PM PDT by DoodleBob
Disney+ shed another 4 million subscribers in the first three months of 2023, marking the streamer’s second consecutive quarterly drop after closing 2022 with its first-ever decline. On the bright side, the Mouse House also managed to narrow its streaming business losses by $400 million, down 26% year over year.
On Wednesday, CEO Bob Iger and Co. beat Wall Street estimates for Disney’s quarterly earnings and revenue due to an impressive January-March showing at the company’s theme parks. That win comes during a fiscal Q2, which concluded April 1, plagued by company-wide layoffs, a looming (and now active) writers strike and a turf war with Florida Gov. Rick DeSantis.
Disney ended the quarter with 157.8 million subscribers at Disney+, significantly missing Wall Street’s estimate of 163.17 million subs. That projected figured would have been up from the 161.8 million subs Disney+ fell to the prior quarter.
This second sub drop was driven by a 4.6 million sequential decline at Disney+ Hotstar, the version of the service offered in India and parts of Southeast Asia. Last year, Disney lost streaming rights to Indian Premier League (IPL) cricket matches, which prompted it to lower growth targets for Disney+ Hotstar in India.
In the U.S./Canada, Disney+ lost about 300,000 subs (to reach 46.3 million), while it added nearly 1 million in international markets excluding Disney+ Hotstar.
Hulu gained 200,000 in the quarter to stand at 48.2 million, and ESPN+ increased by 400,000 to 25.3 million.
During Disney’s earnings call with analysts later Wednesday, Iger — who returned to his post as CEO last fall upon the ousting of Bob Chapek — announced that Hulu content will be introduced on Disney+ later this year in a “one-app experience.”
(Excerpt) Read more at msn.com ...
I’m getting tired of what should be considered bad financial news actually causes the markets to respond favorably. So much f#()#*^%*&^% manipulation.
They don't use that term often when Disney is involved.
Having been a subscriber to Disney+ (for about 90 days), I’ll just say that they do have a lot of material, but about 50-percent is crap. A lot of the historic movies are there and probably entertaining to go back and review those. The Nat’l Geographic stuff? I didn’t care for. Star Wars? After the first 3 movies...that was the ‘end’ of the basic story.
So the Marvel offerings was the only plus-up in the end. After you’ve watched what they had....there was no need to continue the subscription.
Who could have predicted that most of America would reject PedoGroomer entertainment!?
Well Zipadeddodah!
Ain’t that a shame?
Bad news for Disney is good news for America’s children. I never dreamed that I’d one day write that sentence, but here we are in 2023.
Disney and Bud have each other
Consumers can only support a certain number of “Plus” channels before they say, Enough!!
Disney was always a happy safe spot in childhood... even before the parks. I’m stunned people running Walt’s company would throw it all away ... and for nothing.
“I’m getting tired of what should be considered bad financial news actually causes the markets to respond favorably.”
Calm down. DIS is in almost all mutual funds. People get paychecks, paychecks have retirement funds, retirement funds invest in mutual funds. It takes a long time to get approval to get put into mutual funds and a long time to get dumped by mutual funds. Like ABI, its bottom line will eventually dictate whether it remains a good mutual fund investment. DEI is helping it stay in the funds but eventually the losses will convince investors to switch out of that fund. The first indicator is declining stock price. Keep it up and it gets dumped.
Haven't even looked at it in over two years to see if there is anything worth seeing.
in an attempt to turn things around
they have added a new disney character
called
dylan mulvaney
They are being budwiesered, good!
What investors need to be concerned about is the number of those who remain are enrolled as free subscribers due to benefits from other services. I don't know how much Disney got for those packages, but it would be good to understand the quantity of those who view under such plans, and how much the providers paid for said subscription. Safe bet it wasn't full cost.
"Mouse of Cards"?
Many friends rave about Ted Lasso but I’m not subscribing just for that. Or is that on Apple? Who knows…
Ted Lasso was the most Woke show I ever saw.
the irony here is Disney used to make BILLIONS selling to rights to Netflix to show their content, now they are losing billions trying to do it on their own.
IMO-—THE BILLIONAIRES are PROPPING UP the market.
WHEN IT FINALLY CANNOT be supported any more-—OCT 1929 will look like rehearsal.
The subscribers are virtual by the millions. Disney and others count just having the app on your streaming device. Not paying customer. Think AOL cds.
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