Disney+ has reported its first loss in subscribers since its launch in November 2019. The streamer reported today that it dropped 2.4 million subscribers in the last three months of 2022.
According to Variety, the drop in Disney+ subscribers — which was bigger than analysts expected — was entirely driven by a 3.8 million sequential decline Disney+ Hotstar, the version of the service offered in India and parts of Southeast Asia, to stand at 161.8 million at the end of 2022. In the U.S./Canada, Disney+ gained about 200,000 subs (to reach 46.6 million). Hulu gained 800,000 in the quarter to stand at 48.0 million, and ESPN+ increased by 600,000 to 24.9 million.
Last November, Disney+ reported that it had reached 164.2 million subscribers with over a 12 million gain in Disney+ streaming subscribers beating Wall Street expectations.