Streaming service Disney+ has reportedly lost 1.3 million subscribers as fans turn away due to a recent price hike.
When it comes to the world of entertainment, streaming platforms have well and truly cemented themselves as the go-to spot for users to watch TV, movies, and more.
The likes of Disney+, Netflix, Paramount, and others offer up exclusive content, old classics, and more for consumers to dive straight into from the comfort of their own homes.
However, Disney+ has seen a massive decline in the number of users subscribed to the streaming platform of late. This is seemingly due to the recent price increase that caused major backlash online with fans at the time.
They've now lost subscribers in 4/5 of the past quarters
— Culture Crave 🍿 (@CultureCrave) February 7, 2024
As reported by Variety, Disney+ saw a decline of 1.3 million subscribers in the last quarter of 2023 alone, in turn resulting in a $300 million loss for the company between the October – December period of 2023.
The platform is on track for a promising beginning to 2024, however. In its most recent financials, Disney projected an increase of almost 6 million subscribers to Disney+ by the end of its current quarter, which runs from January to March 2024.
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Overall, Disney amassed 149.6 million streaming subscribers at the end of 2023, a decrease from the previous quarter’s figure of 150.2 million.
While Disney+ does of course include the classic animated films the company is known for, the streaming platform is also the home of all Marvel-related content as well as all Star Wars films, TV shows, and more.
Recently, Disney also revealed that they are developing Moana 2, with the film set to hit theatres on November 27, 2024 and then eventually arrive on Disney+.
Time will tell how the next quarter fairs for the entertainment juggernaut, however, we’ll be sure to keep you updated on all the latest Disney content.