The Walt Disney Company expects Disney+ to fall millions of subscribers short of its 2024 goal, Orange County Register reports.
Disney+ launched in November 2019. In 2020, Disney predicted they would have between 230 million and 260 million subscribers by September 2024. Now-former CEO Bob Chapek lowered the goal slightly in 2022, to between 215 million and 245 million subscribers.
Returning CEO Bob Iger said Disney will no longer share subscriber goals, similar to Netflix, but it’s still clear Disney+ isn’t coming anywhere near their previous targets.
Subscriber growth initially slowed in 2021 due to a price increase and less new content. But it wasn’t until early 2023 that Disney+ actually lost subscribers. They lost 2.4 million in the quarter, followed by another 4 million in Q2. In Q3, they lost 11.7 million, leaving them at 146.1 million subscribers total.
The subscribers have mostly been lost from Disney+ Hotstar, a version of the streaming service offered in India and parts of Southeast Asia. In 2022, Disney lost streaming rights to Indian Premier League (IPL) cricket matches, leading to Disney+ Hotstar alone losing 3.8 million subscribers in 2023’s Q1 and 4.6 million subscribers in Q2.
But Disney+ lost subscribers in the U.S. and Canada too, likely due to continued price increases.
The OC Register’s sources state Disney management expects to fall “tens of millions of subscribers short” of the 215 – 245 million goal.
Disney and other media companies have struggled to keep streaming profitable, hence the price increases.
Disney and Charter Communications, the parent company of Spectrum, recently feuded over contracts, leading to Disney channels going dark for Spectrum users. They reached an agreement this week that will see Disney+ Basic included in the Spectrum TV Select package.
“Star Wars: Ahsoka” is currently airing on Disney+. The live-action “The Little Mermaid” recently arrived on Disney+ and was the “most viewed Disney movie premiere on Disney+ since ‘Hocus Pocus 2,'” Disney said. Disney’s “Haunted Mansion” movie will be available for streaming on October 4.
Disney+ and ESPN+ will air a real-time animated version of the October 1 Funday Football match between the Jaguars and Falcons.
Some Disney+ release dates have been pushed due to the ongoing WGA and SAG-AFTRA strikes.
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