Disney+ announced significant loss of subscribers
CEO Bob Iger commented that they have been facing short-term challenges, including the loss of subscribers
Disney announced that its streaming service, Disney+, saw a reduction of more than 10 million subscribers during the last quarter, largely due to its performance in the Indian market.
At the end of the quarter, Disney+ had 146.1 million subscribers, in contrast to the 158 million registered during the first three months of this year, according to data provided by the company.
On the other hand, Netflix, its direct competitor, recently reported an increase of almost six million subscriptions, the result of its efforts to tackle password sharing.
“While we have faced short-term challenges, I have strong confidence in Disney’s long-term direction,” Disney CEO Bob Iger said during a conference call to present financial results.
Iger told financial analysts that growth over the next five years will be driven by expansion in the streaming arena, successes in film production and theme park performance.
The decline in subscribers to Disney+, except for a minority, was concentrated in India, where the company lost broadcast rights to popular cricket matches earlier in the year.
K. Tovar
Source: Bancaynegocios
(Reference image source: Thibault Penin, Unsplash)
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