Disney to cut target for Disney+ streaming subscribers

Walt Disney Co. expects to fall tens of millions of subscribers short of its last publicly stated 2024 target for the Disney+ streaming service, according to people familiar with the matter.

The goal of 215 million to 245 million subscribers was set in August 2022 by then-Chief Executive Officer Bob Chapek. In February, returning CEO Bob Iger said Disney would no longer provide subscriber forecasts, matching a decision at Netflix Inc.

Disney+ has been losing customers to price increases, as well as collapsing demand in India after the company failed to win cricket streaming rights. That’s led management to conclude it will fall short of those earlier numbers, said the people, who asked not to be identified discussing internal targets.