Disney+ Hotstar loses 4.6 mn subscribers in Jan-Mar quarter

Disney+ Hotstar lost 4.6 million streaming subscribers in the second quarter of FY23. The subscriber base declined to 52.9 million as on April 1, 2023.

This comes months after the streaming service lost the digital media rights of the Indian Premier League (IPL). The platform had lost 3.8 million subscribers in the October-December quarter of 2022. 

Overall, Disney+ lost 4 million subscribers globally taking its subscriber base to 157.8 million from 161.8 million in the previous quarter. The decline was largely driven by the loss of subscribers for Disney+Hotstar.

Its average monthly revenue per paid subscriber also decreased from $0.74 to $0.59 due to lower per-subscriber advertising revenue. 

International Disney+ (excluding Disney+ Hotstar) average monthly revenue per paid subscriber stood at $5.93.

“We’re pleased with our accomplishments this quarter, including the improved financial performance of our streaming business, which reflect the strategic changes we’ve been making throughout the company to realign Disney for sustained growth and success,” said Robert A. Iger, chief executive officer, The Walt Disney Company, while announcing the results.

Iger, who took over the CEO post from Bob Chapek, has been working to turn around Disney's streaming business since his return in November. 

For the three months ended April 1, Disney earned $1.27 billion and revenue rose 13% to $21.82 billion.