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Disney+ Drops 1.3 Million Subscribers Amid Price Hike, Streaming Loss Shrinks by $300 Million
Disney+ lost 1.3 million subscribers in the final quarter of 2023 amid a hefty price hike that went into effect last fall
These results mark the first growth for Disney+ Hotstar since last year’s mass exodus of 12.5 million subscribers amid a strategy shift to move away from low-margin customers, and the loss of key sports rights in the region. Wall Street forecast earnings per share (EPS) of 99 cents on $23.6 billion in revenue for Disney’s most recent quarter, according to analyst consensus data provided by LSEG, formerly Refinitiv. Looking at the renewed strength of all of our businesses this quarter – from Sports, to Entertainment, to Experiences – we believe the stage is now set for significant growth and success, including ample opportunity to increase shareholder returns as our earnings and free cash flow continue to grow.”
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