Disney reports growth in the number of Disney+ subscribers for the first time this year. In total, almost seven million were added in the past quarter. Although Disney is still making a loss with its streaming services, that loss is the lowest since 2020.
In total, Disney+ had 150.2 million subscribers at the end of the fourth quarter of 2023, which for Disney ended in October. This includes Disney+ Hotstar, which the company offers in India, Thailand, Malaysia and Indonesia, among others. This means that the streaming service has almost seven million more subscribers than in the previous quarter, Disney said its quarterly report.
It is the first time this year that the number of Disney+ subscribers has increased. However, the peak of 164.2 million subscribers has not yet been surpassed. That was in the third quarter of 2022. The decline in subscribers over the past year is due to the continued decline in Disney+ Hotstar customers. Disney+ did have a record number of ‘core’ subscribers in the past quarter: 112.6 million.
In the past quarter, Disney’s streaming services collectively suffered a loss of $420 million. That is a lot less than a year ago, when a loss of $ 1.47 billion was reported in the same quarter. The operating loss in this division is the lowest since the third quarter of 2020, when a loss of $ 352 million was recorded.
Disney owes this decline partly to the growth of subscribers to regular Disney+ and the American streaming service Hulu, and the increase in subscription prices. Disney also says it has achieved an average higher turnover per American subscriber, $7.50, due to increased advertising revenue. In the US it has Now about half of subscribers have a subscription with commercials. This month, such a subscription form also became available in some European countries, but not yet in the Benelux. Disney expects to make a profit with its streaming services for the first time in the fourth quarter of 2024.