Disney Plus sheds subscribers for second straight quarter, company loses $659 million in streaming unit

Subscribers to Disney Plus fell for the second straight quarter, the company said on Wednesday, though it stemmed financial losses as it competes with Netflix for viewers.

Analysts had foreseen an increase in subscribers for the period, but a hike in prices sent customers turning away from the platform that streams Marvel, Star Wars and Disney content across the globe.

Total subscribers to Disney Plus fell to 157.8 million, the Burbank, California-based group said, with the company losing $659 million in its streaming unit, though this was not as bad as expected.