Last Updated on 02/11/2023 by てんしょく飯
Disney Plus, the video delivery service provided by Disney, has lost 2.4 million subscribers in the last three months of 2022.
Disney Plus launched in late 2020, and while this was the first decline since its launch, Disney’s quarterly earnings beat Wall Street estimates thanks to a surge in revenue from Disney’s theme parks, the company said.
The results are the first since Bob Iger returned as CEO after Disney’s board of directors ousted former CEO Bob Chapek in November. Iger said he is trying to reassure investors that the company has a plan to get back on track.
Overall, Disney reported an 8% increase in revenue to $23.51 billion for the quarter ended December 31, 2022 (Disney’s first quarter of fiscal 2023) and adjusted earnings per share of 99 cents. This was above analysts’ consensus estimates by Refinitiv of $23.37 billion (³.73 trillion) and 78 cents (³.02), respectively.
Iger said in the earnings release on Wednesday, February 8 (U.S. time), “After a strong first quarter, we are embarking on a significant transformation that will allow us to maximize the potential of our world-class creative team and unmatched brands and franchises. We believe the work we are doing to rebuild the company around creativity while reducing expenses will lead to sustained growth and profitability in our streaming business, better position us to weather future disruptions and global economic challenges, and create value for our shareholders.”
The decline in “Disney Plus” subscribers was larger than analysts had expected. It was all due to a decline of 3.8 million subscribers to “Disney+ Hotstar” (which uses Hotstar, an existing service in India, to co-brand its pay tier), offered in India and parts of Southeast Asia, to 161.8 million at the end of 2022. Last year, Disney lost the rights to stream Indian Premier League (IPL) cricket matches, which led to a lowering of the growth target for Disney+ Hotstar in India.
In the U.S. and Canada, “Disney+” reached 46.6 million subscriptions. Its subsidiary, Hulu, grew by 800,000 to 48 million subscribers, and ESPN+ grew by 600,000 to 24.9 million. The Disney Company continues to forecast that Disney Plus will be profitable in FY2024.
コメント