Disney+ Hotstar's subscribers decreased, five lakh people left!!!
Disney+ Hotstar's subscribers decreased, five lakh people left!!!
Walt Disney's streaming service Disney+ Hotstar has suffered a major setback. In fact, in the third quarter ended on june 29, 2024, its paid subscribers have decreased by 0.5 million. With this, the paid member base of Disney+ Hotstar has dropped to 35.5 million in this quarter, which is 1.4 percent less than the 36 million paid members of the previous quarter. Walt Disney, which follows the financial year from october to September, announced its third quarter results on Wednesday.
Paid members decreased in 6 out of the last seven quarters
According to the Money Control report, the number of paid members of the streaming service has seen a decline in six of the last seven quarters. In Q1-FY24 alone, the streaming service added 0.7 million paid subscribers. At its peak, Disney+ Hotstar reported 61.3 million subscribers in the quarter ended october 2022 (Q4FY22). However, providing some relief, the company said that average monthly revenue per paid subscriber for Disney+ Hotstar grew more than 50% to $1.05 (INR 88) in the proceeding quarter as against $0.7 (INR 58.7) in the previous quarter.
Subscribers declined despite t20 cricket World Cup
This drop in subscribers has come despite the t20 cricket world cup being held during this quarter. In this world cup, india won the ICC trophy after 11 years. cricket tournaments have traditionally been a key subscriber driver for the streaming service. In July, Disney+ Hotstar claimed that the final match between india and south africa attracted a maximum viewership of 53 million, slightly lower than the global record of 59 million set in november 2023. Let us tell you that Disney+ Hotstar is currently present in india and some Southeast Asian markets like Indonesia, malaysia and Thailand, although most of the subscribers are from india