Disney+ has reported a total of 161.8 million subscribers in the October-December 2022 quarter, the Q1 2023 earnings report by the company revealed.
As per reports, the subscriber base has decreased by 2.4 million from the 164.2 million recorded in the previous quarter.
TechCrunch reported that the drop was driven by a decrease in Disney+ Hotstar subscribers. The streaming service, available in India and parts of Southeast Asia, saw a decline of 3.8 million subscribers, down from 61.3 million subscribers in the previous quarter.
Meanwhile, Disney has gained 2,00,000 domestic subscribers in the US and Canada.
Also read: Disney to cut 7,000 jobs
The company’s CEO Bob Iger said in an earnings call that Disney will no longer provide subscriber addition guidance, a move similar to Netflix.
Iger added that the company has significant restructing plans, including job cuts. The company earlier said that it plans to reach 215 to 245 million subscribers by 2024.