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Disney sees its total subscriber base decrease by 2% for the quarter ending March 2023. This is mainly due to its streaming service Hotstar. As per reports, Disney+ Hotstar, the streaming platform for viewers in India and Southeast Asia, lost around 4.6 million subscribers in the quarter. This was their second quarter where the platform faced a dearth of customers. Reportedly, since October 2022, the platform has lost over 8.4 million customers. At the same time, it still has 53 million subscribers. Not just that, the company also saw less revenue from those who retained their subscriptions. Hotstar’s average revenue declined from 74 cents to 59 cents in the quarter ended.
Disney+ acquired Hotstar as it managed to attract viewers by providing livestreaming of Cricket, ODIs, Tests and even IPL. However, the streaming rights of this year’s IPL went to Viacom18, a company backed by Mukesh Ambani. To aggressively grow subscribers, Viacom18’s Jio Cinema started streaming IPL for free in India. This was one of the major reasons why Disney+ Hotstar lost customers. Apart from this, the loss of subscribers also happened because the company ended the distribution partnership with other telecom companies. Hotstar terminated its licensing agreement with HBO.
Disney announced on Wednesday that the lower impressions were due to lower average viewing across their sports and non-sports networks.
According to industry analysts, Hotstar may lose more customer base by the end of this year. Analysts predicted that the platform could lose over 7 million customers.
Disney sees its total subscriber base decrease by 2% for the quarter ending March 2023. This is mainly due to its streaming service Hotstar. As per reports, Disney+ Hotstar, the streaming platform for viewers in India and Southeast Asia, lost around 4.6 million subscribers in the quarter. This was their second quarter where the platform faced a dearth of customers. Reportedly, since October 2022, the platform has lost over 8.4 million customers. At the same time, it still has 53 million subscribers. Not just that, the company also saw less revenue from those who retained their subscriptions. Hotstar’s average revenue declined from 74 cents to 59 cents in the quarter ended.
Disney+ acquired Hotstar as it managed to attract viewers by providing livestreaming of Cricket, ODIs, Tests and even IPL. However, the streaming rights of this year’s IPL went to Viacom18, a company backed by Mukesh Ambani. To aggressively grow subscribers, Viacom18’s Jio Cinema started streaming IPL for free in India. This was one of the major reasons why Disney+ Hotstar lost customers. Apart from this, the loss of subscribers also happened because the company ended the distribution partnership with other telecom companies. Hotstar terminated its licensing agreement with HBO.
Disney announced on Wednesday that the lower impressions were due to lower average viewing across their sports and non-sports networks.
According to industry analysts, Hotstar may lose more customer base by the end of this year. Analysts predicted that the platform could lose over 7 million customers.
