Disney+ loses 4 million subscribers as fresh layoff round approaches

Entertainment giant The Walt Disney Company’s flagship streaming service Disney+ lost four million subscribers in its second quarter that ended April 1, as the company approached its third round of layoffs.

In its Q2 2023, the company reported 157.8 million subscribers, compared to 161.8 million in the previous quarter.

The key reason behind the decline was Disney+Hotstar, which lost 8 per cent of its subscriber base — from 57.5 million in Q1 2023 to 52.9 million in Q2.

“Disney+Hotstar average monthly revenue per paid subscriber decreased from $0.74 to $0.59 due to lower per-subscriber advertising revenue,” the company said in a statement.