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Disney+ Sheds 4 Million Subscribers in Second Straight Quarterly Drop, Streaming Losses Narrow by 26%
Variety via MSN ^ | May 10, 2023 | Jennifer Mass

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 ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: disney; groomers; pedogroomers; pedos; woke

1 posted on 05/15/2023 8:54:25 PM PDT by DoodleBob
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To: DoodleBob

I’m getting tired of what should be considered bad financial news actually causes the markets to respond favorably. So much f#()#*^%*&^% manipulation.


2 posted on 05/15/2023 9:01:59 PM PDT by CatOwner (Don't expect anyone, even conservatives, to have your back when the SHTF in 2021 and beyond.)
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To: DoodleBob
Second Straight Quarterly Drop

They don't use that term often when Disney is involved.

3 posted on 05/15/2023 9:14:05 PM PDT by New Perspective (As Leonard Cohen said once in an interview, “You won’t like what comes after America”)
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To: DoodleBob

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.


4 posted on 05/15/2023 9:14:55 PM PDT by pepsionice
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To: DoodleBob

Who could have predicted that most of America would reject PedoGroomer entertainment!?


5 posted on 05/15/2023 9:21:37 PM PDT by TigersEye (Woke is a cancer of the mind and humanity)
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To: DoodleBob

Well Zipadeddodah!

Ain’t that a shame?


6 posted on 05/15/2023 9:24:49 PM PDT by Sequoyah101 (Procrastination is just a form of defiance.)
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To: DoodleBob

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.


7 posted on 05/15/2023 9:33:56 PM PDT by AnotherUnixGeek
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To: DoodleBob

Disney and Bud have each other


8 posted on 05/15/2023 9:42:29 PM PDT by libh8er
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To: DoodleBob

Consumers can only support a certain number of “Plus” channels before they say, Enough!!


9 posted on 05/15/2023 10:07:58 PM PDT by rexthecat
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To: AnotherUnixGeek

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.


10 posted on 05/15/2023 11:33:12 PM PDT by GOPJ (How many 'intelligence' goons & thugs live in mansions on $180,000 a year? And drive expensice cars?)
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To: CatOwner

“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.


11 posted on 05/16/2023 2:06:27 AM PDT by Justa (If where you came from is so great then why aren't Floridians moving there?)
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To: DoodleBob
I guess Disney considers me a "subscriber" as D+ is included in my Verizon phone plan. Used it once to watch some Avengers movies, and promptly forgot about it.

Haven't even looked at it in over two years to see if there is anything worth seeing.

12 posted on 05/16/2023 2:30:53 AM PDT by jeffc (Resident of the free State of Florida)
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To: DoodleBob

in an attempt to turn things around

they have added a new disney character

called

dylan mulvaney


13 posted on 05/16/2023 2:46:33 AM PDT by joshua c (to disrupt the system, we must disrupt our lives, cut the cable tv)
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To: DoodleBob

They are being budwiesered, good!


14 posted on 05/16/2023 3:20:58 AM PDT by ronnie raygun
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To: DoodleBob
The impact of the loss of subscribers in India due to the loss of Streaming Rights for Indian Premier League Cricket. That accounts for a massive number of lost, paying subscribers.

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"?

15 posted on 05/16/2023 3:22:49 AM PDT by Caipirabob (Communists...Socialists...Fascists & AntiFa...Democrats...Traitors... Who can tell the difference?)
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To: jeffc

Many friends rave about Ted Lasso but I’m not subscribing just for that. Or is that on Apple? Who knows…


16 posted on 05/16/2023 5:13:48 AM PDT by Rummyfan (In any war between the civilized man and the savage, support the civilized of man.)
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To: Rummyfan

Ted Lasso was the most Woke show I ever saw.


17 posted on 05/16/2023 5:14:41 AM PDT by anton
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To: DoodleBob

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.


18 posted on 05/16/2023 5:21:46 AM PDT by TexasFreeper2009
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To: CatOwner

IMO-—THE BILLIONAIRES are PROPPING UP the market.

WHEN IT FINALLY CANNOT be supported any more-—OCT 1929 will look like rehearsal.


19 posted on 05/16/2023 6:49:22 AM PDT by ridesthemiles
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To: DoodleBob

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.


20 posted on 05/16/2023 2:04:38 PM PDT by minnesota_bound (Need more money to buy everything now)
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