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Disney+ Sheds 4 Million Subscribers in Second Straight Quarterly Drop
Posted on 5/11/23 at 10:37 am
Posted on 5/11/23 at 10:37 am
quote:
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.
quote:
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.”
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Posted on 5/11/23 at 10:40 am to RLDSC FAN
Posted on 5/11/23 at 10:45 am to RLDSC FAN
Stale content. Initial sign-up offers expiring. Bad press. Only people holding on are the ones with young kids and want to retain the old catalog.
Posted on 5/11/23 at 10:50 am to ell_13
quote:yep. If my little girl didn’t love princess movies the mouse would not receive any money from me
Only people holding on are the ones with young kids and want to retain the old catalog.
Posted on 5/11/23 at 10:50 am to ell_13
It's going to be a bad spiral. They're pretty much refusing to make any new content that isn't based on an already existing IP and people are tiring of the poor writing and agenda pushing built into the tentpole franchises.
Posted on 5/11/23 at 10:52 am to RLDSC FAN
Had the ESPN + Disney + Hulu bundle but pared it down to just Hulu w/ads now since my kids only want to watch Anime.
Posted on 5/11/23 at 10:53 am to ell_13
It is a really bad streaming platform. I'm not a Star Wars or Marvel fanboy so there is nothing on there for me other than an occasional re-watch. Only reason I have it is because of the Hulu/ESPN+ bundle. I'd drop all of them if I didn't pay for a year in full without realizing it.
Posted on 5/11/23 at 10:53 am to RLDSC FAN
quote:
Disney ended the quarter with 157.8 million subscribers at Disney+
How many of these “subscribers” are simply Verizon/ATT (whichever other ones offer a free D+ subscription)?
Posted on 5/11/23 at 10:54 am to RLDSC FAN
I think we have reached the peak of the streaming cycle.
Posted on 5/11/23 at 10:58 am to RLDSC FAN
quote:
On the bright side, the Mouse House also managed to narrow its streaming business losses by $400 million, down 26% year over year.
Losses?
Jesus. Is this a poor cost control issue? They should be able to generate revenue just streaming their old material.
Losses?
Posted on 5/11/23 at 11:05 am to iwyLSUiwy
That’s why they’re looking to combine Disney+ and Hulu into one app.
Posted on 5/11/23 at 11:18 am to ell_13
Who knows, when asked about it Iger relayed for the sole app people will still require a membership of Disney plus and Hulu either separate or under the bundle they offer.
Posted on 5/11/23 at 11:22 am to molsusports
quote:
Losses
Netflix is the only major streaming platform that has ever been able to consistently turn a profit.
Posted on 5/11/23 at 11:46 am to Jay Are
That’s because Netflix actually creates content on a consistent basis. They don’t always pump out quality, but they will pump out something that’s bingeable at least once a month.
Posted on 5/11/23 at 11:46 am to ell_13
quote:
Stale content. Initial sign-up offers expiring. Bad press. Only people holding on are the ones with young kids and want to retain the old catalog.
Nailed it. Only thing that I want to watch is the Mandalorian. Skipped the third season of that.
Posted on 5/11/23 at 11:49 am to ell_13
quote:
Only people holding on are the ones with young kids and want to retain the old catalog.
This is us. But I don't mind throwing a small amount of money at them for access to tons of Disney shite, and once my son grows older (he's 3) I'm sure we'll still keep it. But I completely get why some people are jumping ship.
Outside of a very select group of content (Bluey, for example), we mainly watch older Disney shite and don't have D+ for the new content. I have at least heard good things about this new animated young Jedi cartoon show, and my son really wants to see it.
Posted on 5/11/23 at 11:50 am to RLDSC FAN
The service has definitely taken a dive in quality. Not sure what they're thinking with some of these new offerings. Like a Taylor Swift concert. Does that really drive membership?
Posted on 5/11/23 at 11:51 am to CocomoLSU
quote:
Bluey, for example
You can watch a ton of Bluey stuff on the official Bluey YouTube channel.
Posted on 5/11/23 at 11:54 am to Jay Are
The amount of money these companies are willing to hemorrhage blows my mind.
Losing more than a billion dollars a quarter is not a palatable business model. Warner cutting back on spending was a much more rational response.
Losing more than a billion dollars a quarter is not a palatable business model. Warner cutting back on spending was a much more rational response.
Posted on 5/11/23 at 12:01 pm to molsusports
All the streaming companies are realizing how hard of a challenge streaming is. Zaslav is basically giving up on making original films for Max.
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