Disney+ Loses 1.3 Million Subscribers , Following Price Hike.
Disney+ lost a significant amount of subscribers in the last quarter of 2023, 'Variety' reports.
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A price hike that was implemented last fall was largely to blame.
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Disney+ Premium went from $10.99 per month to $13.99 per month.
Hulu without ads went from $14.99 per month to $17.99 per month.
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ESPN+ is now $10.99 per month instead of $9.99 per month.
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Despite dropping subscribers, the company was able to narrow losses by $300 million during that time, 'Variety' reports.
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Disney says that its streaming business is on track to be profitable and "to meet or exceed our $7.5 billion annualized savings target by the end of fiscal 2024.".
Just one year ago, we outlined an ambitious plan to return The Walt Disney Company to a period of sustained growth and shareholder value creation.
, Disney CEO Bob Iger, via letter to shareholders.
Our strong performance this past quarter demonstrates we have turned the corner and entered a new era for our company, , Disney CEO Bob Iger, via letter to shareholders.
... focused on fortifying ESPN for the future, building streaming into a profitable growth business, reinvigorating our film studios, and turbocharging growth in our parks and experiences, Disney CEO Bob Iger, via letter to shareholders.
... focused on fortifying ESPN for the future, building streaming into a profitable growth business, reinvigorating our film studios, and turbocharging growth in our parks and experiences, Disney CEO Bob Iger, via letter to shareholders.
... focused on fortifying ESPN for the future, building streaming into a profitable growth business, reinvigorating our film studios, and turbocharging growth in our parks and experiences, Disney CEO Bob Iger, via letter to shareholders
