Disney + Hotstar Loses Subscribers in April-June Quarter
During the April-June period, Disney + Hotstar experienced a downturn in paid customers, losing 12.5 million (1.25 crore). This was despite The Walt Disney Company, the parent company of the streaming service, reportedly considering selling its India operations.
Subscriber Base Plummets 24%
The India-based platform saw a 24% decrease in paying subscribers, dropping from 52.9 million in the preceding quarter to 40.4 million. At the end of September 2022, 61.3 million people across Asia were subscribed to Disney + Hotstar, with the majority coming from India. This made it the leading streamer in the country in terms of user base, far outpacing competitors Amazon Prime Video (approximately 20 million) and Netflix (around 6-7 million).
Commentary from Interim Chief Financial Officer
Kevin Lansberry, the interim chief financial officer, commented during the post-result earnings call on Thursday that Disney + Hotstar subscribers had decreased due to adjustments made to their product.
Conclusion
The absence of the Indian Premier League (IPL) has caused a significant decline in the number of paying customers of Disney + Hotstar. The streaming service’s parent company, The Walt Disney Company, is reportedly considering selling its India operations, but this has not been enough to reverse the losses.