Disney’s highly anticipated Disney Plus streaming platform announced that it lost 1.3 million subscribers over the past three months. The platform’s user base dropped from 112.6 million to 111.3 million between September and December 2023. Notably, 400,000 of the lost subscribers were from the United States.
Will Disney Plus shut down?
This decline is not new for Disney Plus. It’s well-known that millions of users have been rapidly abandoning the platform since last year. This situation has raised significant concerns among Disney’s upper management and company investors. If the platform cannot stage a miraculous comeback, the battle against Netflix already seems lost. It remains to be seen whether the successful return of Disney CEO Bob Iger to his position can change this downward trend.
The primary reason behind this decline is believed to be the significant increase in Disney Plus subscription prices. Particularly, the membership price hikes in October 2023 garnered attention and led many users to opt out of renewing their subscriptions.
Musk has announced that he will cover the legal expenses of Gina Carano, former actress of The Mandalorian, in her lawsuit against Disney.
However, not all news is bad for Disney. The company’s other streaming platform, Hulu, reportedly increased its subscriber count by 1.2 million in three months, reaching a total of 45.1 million users. The success is attributed in part to the show “The Bear” streaming on the platform. Additionally, Disney Plus’s Indian version, Hotstar, saw a 700,000 increase in subscribers.
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