Disney+’s streaming losses narrow in the second quarter even with a 12.5 million subscriber loss from the Disney+ Hotstar streaming platform in India. The loss from HotStar was expected after Disney declined to renew its rights to hugely popular IPL cricket programming starting in the 2023 season.
For the quarter, Disney exceeded Wall Street’s targets on earnings per share but missed on revenue. The Mouse reported total revenue of $22.3 billion, up 4% from the year-ago quarter, and operating income of $3.6 billion, down 6%, Variety reports.
Disney+ had 146.1 million total global paid subscribers at the end of June,  which is down over 11 million from 157.8 million subscribers last quarter. The streamer lost 300K customers in U.S. and Canada while streaming-only Hulu gained 300K subs.
ESPN+ subs were about flat at 25.2 million. Hulu’s 44 million SVOD subs were up from 43.7 million. Live TV+ SVOD was 4.3 million, for a 48.3M total Hulu.
Source: Deadline