Disney+ lost 1.3 million subscribers following its price increase

In the middle of the announcement of a Moana 2 and the release date of the next Star Wars film, Disney also released its latest financial results this Wednesday, February 7, 2024.

Documents which reveal, among other things, that Disney+ lost more than a million subscribers in the last quarter of 2023… but that the streaming platform is preparing to (finally) go green.

Disney+ below 150 million subscribers

The number of Disney+ Core subscribers (i.e. from the whole world excluding India) thus increases from 112.6 million in the third quarter (July-September) to 111.3 million in the fourth quarter (October-December) 2023 . The reason ? A dead loss of 1.3 million subscribers in these territories, which coincides with the platform’s new prices launched in the fall.

Implemented on November 1, 2023, this new price list saw the arrival of a less expensive subscription with advertisements (€5.99/month), but also the addition of a Premium offer at €11.99/ month. A general increase in the price of the platform (and a drop in viewing comfort) which clearly did not please certain subscribers.

Disney+ Hotstar, the Indian offering of the streaming service separate from Disney+ Core, recorded an increase of 500,000 subscribers in the fourth quarter for a cumulative number of 38.3 million customers in the country.

Worldwide, the streaming platform therefore has a total of 149.6 million subscribers. For comparison, Netflix has 260.28 million customers, while Prime Video hovers around 200 million.

But the Disney platform has undoubtedly passed the hardest part. The firm announced that it expected 5 to 6 million new subscribers for the start of 2024. It also increased its average revenue per user (the famous ARPU or average revenue per user) by 14%.

In addition, it posted losses of “only” 138 million dollars over the quarter, while these were 387 million in the third quarter. A hell of a diet, which can also be seen in the service catalog.

After five years in the red, Disney+ will finally turn positive, just like Netflix last year. Between investment reductions, account sharing restrictions, price increases and offers with advertising, have streaming platforms found their model? No doubt, even if this is to the detriment of the wallet and the comfort of subscribers.