Disney+ Hotstar loses 12.5 million subscribers in India
Disney+ Hotstar has lost 12.5 million subscribers in the quarter ending June 2023.
This is the third consecutive quarter where Disney lost subscribers. Since October 2022, the streaming giant is down by 21 million subscribers. The fall is attributed to the lack of cricket content, including the IPL, which it lost to rival, JioCinema.
Reaffirming plans to sell-off or downsize its India presence, Bob Iger, Disney CEO said, “We actually have been looking at multiple markets around the world with an eye toward prioritizing those that are going to help us turn this business into a profitable business. What that basically means is there are some markets that we will invest less in local programming but still maintain the service. There are some markets that we may not have a service at all. And there are others that we’ll consider, I’ll call it, high-potential markets where we’ll invest nicely for local programming, marketing and basically full-service content in those markets. Basically, what I’m saying is not all markets are created equal. And in terms of our march to profitability, one of the ways we believe we’re going to do that is by creating priorities internationally.”
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Iger said that Disney is considering “strategic options” for the company’s portfolio of TV networks.
