Disney+’s tumble in streaming subscribers has continued in its fiscal third quarter, with a whopping 11.7 million subscriber decline internationally. While Disney+ struggles to figure out its place in the streaming market, CEO Bob Iger has identified three viable growth areas for the future, including film studios, parks and streaming.
The streaming service has become a money pit, with high costs for content and marketing to launch the service and an increase in subscriber loss in North America for the second quarter in a row. Disney took an especially hard hit in India, attributing 24% of its streaming subscriber loss to a loss in cricket league rights to Viacom18.
In the second quarter domestically, Disney has lost 300,000 subscribers.
Disney also made the controversial decision to raise its subscription price from $10.99 to $13.99, equating to a 75% increase in monthly bills for subscribers in under two years. Viewer enthusiasm has come out as a major problem for Disney+, with many of its original Marvel and Star Wars series tanking in 2022.
The key for Disney+ is to provide content that people want to watch. Disney has the tools and resources; however, it decided to be a propaganda piece than an entertainment company.
From Breitbart News:
Recent flops include Willow, which was canceled after just one season and then removed completely from the platform. National Treasure: Edge of History, which was also nixed after one season.
The highly touted Marvel series Secret Invasion managed to draw just 994,000 U.S. households in its first five days of release, making it the second-lowest rated Marvel series after the feminist Ms. Marvel, which drew 775,000 households over a similar period.
Disney has another problem, nobody is going to parks, and attendance is down.
The decline at Disney may not be as dramatic as Bud Lights was. However, it is still the same principle in effect.
